Monster Beverage (NASDAQ:MNST) Price Target Raised to $77.00

Monster Beverage (NASDAQ:MNST) had its target price raised by Bank of America from $75.00 to $77.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 8.74% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Monster Beverage from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Citigroup reissued a “buy” rating and issued a $79.00 price objective (up previously from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the company an “overweight” rating in a report on Friday, August 8th. Stifel Nicolaus boosted their target price on Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Monster Beverage in a research report on Thursday. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.

Monster Beverage Stock Performance

Shares of Monster Beverage stock traded up $4.50 during trading on Friday, hitting $70.81. The company’s stock had a trading volume of 4,626,372 shares, compared to its average volume of 5,905,533. The company has a market capitalization of $69.14 billion, a PE ratio of 44.23, a P/E/G ratio of 2.31 and a beta of 0.53. Monster Beverage has a 52 week low of $45.70 and a 52 week high of $72.62. The company has a fifty day simple moving average of $66.44 and a two-hundred day simple moving average of $63.36.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. As a group, analysts predict that Monster Beverage will post 1.62 EPS for the current year.

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MNST. Twin Capital Management Inc. lifted its position in shares of Monster Beverage by 11.6% during the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock valued at $305,000 after acquiring an additional 540 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Monster Beverage during the 2nd quarter worth about $365,000. Avior Wealth Management LLC raised its stake in Monster Beverage by 35.3% during the second quarter. Avior Wealth Management LLC now owns 22,146 shares of the company’s stock worth $1,387,000 after acquiring an additional 5,781 shares in the last quarter. Dock Street Asset Management Inc. raised its position in Monster Beverage by 202.7% in the 1st quarter. Dock Street Asset Management Inc. now owns 11,744 shares of the company’s stock worth $687,000 after purchasing an additional 7,864 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Monster Beverage by 1.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,191,598 shares of the company’s stock valued at $136,054,000 after acquiring an additional 22,960 shares during the last quarter. 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.