Monster Beverage (NASDAQ:MNST) Given New $75.00 Price Target at UBS Group

Monster Beverage (NASDAQ:MNST) had its price target upped by research analysts at UBS Group from $72.00 to $75.00 in a report released on Friday. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 5.80% from the company’s previous close.

A number of other equities research analysts also recently issued reports on MNST. Wells Fargo & Company upped their price objective on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday. Wall Street Zen lowered Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Bank of America lifted their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley increased their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Piper Sandler raised their target price on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $69.41.

Monster Beverage Trading Up 6.9%

MNST traded up $4.58 during trading hours on Friday, hitting $70.89. The company’s stock had a trading volume of 4,626,372 shares, compared to its average volume of 5,905,533. The stock has a market cap of $69.22 billion, a price-to-earnings ratio of 44.23, a P/E/G ratio of 2.31 and a beta of 0.53. The business’s 50-day moving average price is $66.44 and its 200-day moving average price is $63.36. Monster Beverage has a 12 month low of $45.70 and a 12 month high of $72.62.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data 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 net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the company posted $0.41 EPS. The business’s revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Monster Beverage will post 1.62 earnings per share for the current year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company’s 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 transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by company insiders.

Institutional Trading of Monster Beverage

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Monster Beverage by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after purchasing an additional 2,122,685 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Monster Beverage by 1.4% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 22,718 shares of the company’s stock valued at $1,529,000 after buying an additional 318 shares during the period. Fifth Third Bancorp increased its stake in shares of Monster Beverage by 1.0% during the third quarter. Fifth Third Bancorp now owns 271,061 shares of the company’s stock valued at $18,245,000 after buying an additional 2,690 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in shares of Monster Beverage by 3.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 260,056 shares of the company’s stock valued at $17,504,000 after acquiring an additional 7,992 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Monster Beverage by 6.3% in the third quarter. PNC Financial Services Group Inc. now owns 220,753 shares of the company’s stock worth $14,859,000 after acquiring an additional 13,171 shares during the period. Hedge funds and other 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.