Monster Beverage (NASDAQ:MNST) Reaches New 1-Year High Following Analyst Upgrade

Shares of Monster Beverage Corporation (NASDAQ:MNST) hit a new 52-week high during trading on Friday after Bank of America raised their price target on the stock from $77.00 to $85.00. Bank of America currently has a buy rating on the stock. Monster Beverage traded as high as $76.34 and last traded at $76.5610, with a volume of 2509993 shares trading hands. The stock had previously closed at $75.46.

Several other research analysts have also commented on MNST. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $81.00 price target (up from $75.00) on shares of Monster Beverage in a report on Monday, December 1st. Morgan Stanley restated an “overweight” rating and set a $81.00 price objective (up previously from $74.00) on shares of Monster Beverage in a research report on Friday, November 7th. The Goldman Sachs Group upped their price objective on Monster Beverage from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Roth Capital reiterated a “neutral” rating and issued a $70.00 target price on shares of Monster Beverage in a research note on Wednesday, December 3rd. Finally, Piper Sandler set a $85.00 price target on shares of Monster Beverage in a report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $73.67.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the sale, the insider directly owned 63,939 shares in the company, valued at approximately $4,687,368.09. The trade was a 31.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Guy Carling sold 38,438 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the completion of the sale, the insider directly owned 21,993 shares of the company’s stock, valued at $1,568,760.69. The trade was a 63.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 274,981 shares of company stock valued at $20,138,516. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its stake in shares of Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after acquiring an additional 315 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Monster Beverage during the third quarter worth approximately $27,000. Access Investment Management LLC bought a new stake in Monster Beverage during the second quarter worth approximately $25,000. First Horizon Corp acquired a new position in Monster Beverage during the third quarter valued at approximately $29,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Monster Beverage in the second quarter worth $28,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Trading Up 1.4%

The firm has a market capitalization of $74.77 billion, a P/E ratio of 43.48, a P/E/G ratio of 2.23 and a beta of 0.48. The company’s fifty day moving average is $71.35 and its 200-day moving average is $65.88.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.