SunTrust Banks upgraded shares of Monster Beverage (NASDAQ:MNST) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat Ratings reports. SunTrust Banks currently has $65.00 price objective on the stock, up from their prior price objective of $50.00. SunTrust Banks also issued estimates for Monster Beverage’s Q4 2018 earnings at $0.38 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.46 EPS, FY2019 earnings at $2.05 EPS and FY2020 earnings at $2.32 EPS.
Other analysts have also issued reports about the company. Jefferies Financial Group restated a buy rating and issued a $71.00 target price on shares of Monster Beverage in a research note on Thursday, November 8th. Stifel Nicolaus boosted their target price on Monster Beverage from $65.00 to $66.00 and gave the company a buy rating in a research note on Tuesday, September 18th. Guggenheim started coverage on Monster Beverage in a research note on Thursday, September 13th. They issued a buy rating and a $72.00 target price on the stock. Citigroup set a $64.00 target price on Monster Beverage and gave the company a buy rating in a research note on Friday, November 9th. Finally, Zacks Investment Research upgraded Monster Beverage from a hold rating to a buy rating and set a $64.00 target price on the stock in a research note on Wednesday, November 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $62.27.
Shares of MNST opened at $54.37 on Tuesday. The firm has a market capitalization of $29.49 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 1.67 and a beta of 1.45. Monster Beverage has a 1 year low of $47.61 and a 1 year high of $70.21.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $988.73 million. Monster Beverage had a return on equity of 25.47% and a net margin of 25.86%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. On average, equities research analysts predict that Monster Beverage will post 1.77 EPS for the current year.
In related news, EVP Thomas J. Kelly sold 14,661 shares of the business’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $53.73, for a total transaction of $787,735.53. Following the completion of the transaction, the executive vice president now directly owns 24,312 shares in the company, valued at $1,306,283.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Harold C. Taber, Jr. sold 9,000 shares of the business’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $54.55, for a total value of $490,950.00. Following the transaction, the director now owns 77,238 shares of the company’s stock, valued at $4,213,332.90. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Cerebellum GP LLC purchased a new position in Monster Beverage during the fourth quarter worth about $70,000. Harvest Fund Management Co. Ltd grew its position in Monster Beverage by 287.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock worth $111,000 after buying an additional 1,409 shares in the last quarter. Cornerstone Advisors Inc. grew its position in Monster Beverage by 17.5% during the third quarter. Cornerstone Advisors Inc. now owns 2,017 shares of the company’s stock worth $118,000 after buying an additional 300 shares in the last quarter. Honkamp Krueger Financial Services Inc. purchased a new position in Monster Beverage during the third quarter worth about $129,000. Finally, Valeo Financial Advisors LLC purchased a new position in Monster Beverage during the second quarter worth about $181,000. Institutional investors and hedge funds own 64.15% of the company’s stock.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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