Argus Issues Positive Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price target boosted by Argus from $55.00 to $65.00 in a research note released on Tuesday, Marketbeat reports. Argus currently has a buy rating on the stock.

A number of other research firms have also weighed in on MNST. JPMorgan Chase & Co. dropped their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Piper Sandler dropped their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Bank of America boosted their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada lowered their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup reduced their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Stock Performance

Shares of MNST stock opened at $52.00 on Tuesday. Monster Beverage has a 12 month low of $43.32 and a 12 month high of $61.22. The firm’s 50 day moving average is $52.33 and its 200 day moving average is $51.09. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $50.57 billion, a P/E ratio of 33.33, a PEG ratio of 2.69 and a beta of 0.74.

Hedge Funds Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Monster Beverage by 3.1% during the third quarter. Geode Capital Management LLC now owns 15,728,086 shares of the company’s stock valued at $817,490,000 after purchasing an additional 473,418 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Monster Beverage by 1.3% in the 3rd quarter. M&T Bank Corp now owns 60,873 shares of the company’s stock worth $3,176,000 after buying an additional 787 shares during the last quarter. Executive Wealth Management LLC raised its position in shares of Monster Beverage by 17.8% during the 3rd quarter. Executive Wealth Management LLC now owns 54,954 shares of the company’s stock valued at $2,867,000 after buying an additional 8,287 shares in the last quarter. Peloton Wealth Strategists lifted its holdings in shares of Monster Beverage by 22.6% in the 3rd quarter. Peloton Wealth Strategists now owns 41,845 shares of the company’s stock valued at $2,183,000 after acquiring an additional 7,725 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank grew its position in Monster Beverage by 3.4% in the third quarter. Cape Cod Five Cents Savings Bank now owns 90,382 shares of the company’s stock worth $4,515,000 after acquiring an additional 2,975 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.