Monster Beverage Corporation (MNST) Now Covered by Macquarie
Equities researchers at Macquarie initiated coverage on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
A number of other research analysts also recently issued reports on MNST. UBS AG set a $59.00 price target on Monster Beverage Corporation and gave the company a “buy” rating in a report on Wednesday, June 21st. Jefferies Group LLC increased their target price on Monster Beverage Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a report on Wednesday, August 9th. Credit Suisse Group set a $61.00 target price on Monster Beverage Corporation and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research downgraded Monster Beverage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.28.
Monster Beverage Corporation (NASDAQ MNST) traded up 0.33% during midday trading on Thursday, hitting $56.56. The stock had a trading volume of 2,232,859 shares. The firm has a 50 day moving average of $54.59 and a 200 day moving average of $49.83. The firm has a market cap of $32.14 billion, a price-to-earnings ratio of 42.79 and a beta of 0.99. Monster Beverage Corporation has a 52 week low of $40.64 and a 52 week high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. Equities research analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current year.
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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its holdings in shares of Monster Beverage Corporation by 42.2% in the 2nd quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after purchasing an additional 633 shares during the period. Commonwealth Bank of Australia boosted its holdings in shares of Monster Beverage Corporation by 11.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after purchasing an additional 232 shares during the period. Sun Life Financial INC boosted its holdings in shares of Monster Beverage Corporation by 29,250.0% in the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after purchasing an additional 2,925 shares during the period. Dynamic Advisors Solutions LLC purchased a new position in shares of Monster Beverage Corporation in the 2nd quarter worth approximately $202,000. Finally, Covington Capital Management purchased a new position in shares of Monster Beverage Corporation in the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 65.88% of the company’s stock.
About Monster Beverage Corporation
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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