Monster Beverage (NASDAQ:MNST) had its price objective increased by Morgan Stanley from $82.00 to $87.00 in a research note released on Wednesday morning, AR Network reports. They currently have an equal weight rating on the stock.
A number of other research firms also recently commented on MNST. Goldman Sachs Group lifted their price objective on shares of Monster Beverage from $87.00 to $93.00 in a report on Thursday, August 13th. BidaskClub downgraded shares of Monster Beverage from a strong-buy rating to a buy rating in a report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Monster Beverage from $83.00 to $92.00 and gave the stock a buy rating in a report on Wednesday, August 5th. Zacks Investment Research downgraded shares of Monster Beverage from a buy rating to a hold rating and set a $83.00 price objective for the company. in a report on Tuesday, October 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Monster Beverage from $73.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, August 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $79.07.
Shares of NASDAQ:MNST opened at $80.76 on Wednesday. The company has a fifty day simple moving average of $81.12 and a 200 day simple moving average of $72.52. The firm has a market cap of $42.59 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04. Monster Beverage has a 12-month low of $50.06 and a 12-month high of $87.05.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1 billion. Monster Beverage had a net margin of 26.57% and a return on equity of 27.95%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, analysts forecast that Monster Beverage will post 2.26 earnings per share for the current fiscal year.
In related news, insider Emelie Tirre sold 47,601 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $80.34, for a total value of $3,824,264.34. Following the completion of the sale, the insider now owns 11,349 shares of the company’s stock, valued at $911,778.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Vidergauz sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $83.47, for a total transaction of $1,001,640.00. Following the completion of the sale, the director now directly owns 41,325 shares of the company’s stock, valued at approximately $3,449,397.75. The disclosure for this sale can be found here. Insiders sold 111,100 shares of company stock valued at $9,126,791 in the last ninety days. Corporate insiders own 10.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Virtus ETF Advisers LLC acquired a new stake in Monster Beverage in the second quarter worth about $26,000. Nachman Norwood & Parrott Inc bought a new stake in Monster Beverage in the third quarter worth about $39,000. First Horizon Advisors Inc. raised its position in Monster Beverage by 120.2% in the second quarter. First Horizon Advisors Inc. now owns 557 shares of the company’s stock worth $39,000 after acquiring an additional 304 shares in the last quarter. Lountzis Asset Management LLC bought a new stake in Monster Beverage in the second quarter worth about $46,000. Finally, Balentine LLC bought a new stake in Monster Beverage in the first quarter worth about $41,000. 63.92% of the stock is owned by institutional investors and hedge funds.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, non-carbonated energy teas, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and 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 bottling and canning operations.
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