Truist Financial Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Monster Beverage (NASDAQ:MNST) had its target price boosted by Truist Financial from $40.00 to $50.00 in a report published on Wednesday, Marketbeat reports. They currently have a sell rating on the stock.

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Monster Beverage from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research note on Wednesday, January 22nd. UBS Group raised their price target on shares of Monster Beverage from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, April 17th. Citigroup boosted their price objective on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Jefferies Financial Group upped their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Hold” and a consensus target price of $57.89.

Monster Beverage Stock Performance

Monster Beverage stock opened at $59.15 on Wednesday. The company has a market cap of $57.56 billion, a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. Monster Beverage has a 12 month low of $43.32 and a 12 month high of $60.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The stock’s 50-day moving average is $56.11 and its 200-day moving average is $53.30.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Equities analysts anticipate that Monster Beverage will post 1.62 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the sale, the insider now owns 76,201 shares of the company’s stock, valued at $4,220,011.38. This trade represents a 54.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Guy Carling sold 47,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the transaction, the insider now directly owns 21,993 shares of the company’s stock, valued at $1,210,054.86. The trade was a 68.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,316 shares of company stock valued at $11,484,440. Insiders own 7.80% of the company’s stock.

Institutional Trading of Monster Beverage

Hedge funds have recently added to or reduced their stakes in the business. Sustainable Insight Capital Management LLC acquired a new position in shares of Monster Beverage during the fourth quarter valued at $1,214,000. Van ECK Associates Corp raised its position in shares of Monster Beverage by 5.3% during the 4th quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock worth $8,101,000 after buying an additional 7,780 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Monster Beverage during the 4th quarter worth about $7,090,000. Diversified Trust Co acquired a new stake in shares of Monster Beverage in the 4th quarter worth approximately $733,000. Finally, Alliance Wealth Advisors LLC UT bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $423,000. Institutional investors own 72.36% of the company’s stock.

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.