Citigroup Inc. Reiterates $60.00 Price Target for Monster Beverage Corporation (MNST)
Monster Beverage Corporation (NASDAQ:MNST) has been assigned a $60.00 target price by equities researchers at Citigroup Inc. in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s price target would suggest a potential upside of 6.27% from the stock’s current price.
Several other equities analysts have also recently weighed in on MNST. Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a report on Tuesday, June 20th. UBS AG set a $59.00 price objective on Monster Beverage Corporation and gave the company a “buy” rating in a report on Wednesday, June 21st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $60.00 price objective (up from $59.00) on shares of Monster Beverage Corporation in a report on Thursday, June 22nd. Cowen and Company reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Monster Beverage Corporation in a report on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Monster Beverage Corporation currently has an average rating of “Buy” and an average price target of $57.06.
Shares of Monster Beverage Corporation (NASDAQ:MNST) traded up 0.84% during mid-day trading on Wednesday, reaching $56.46. The company’s stock had a trading volume of 1,807,871 shares. The firm has a market cap of $32.08 billion, a price-to-earnings ratio of 42.77 and a beta of 1.02. The firm has a 50 day moving average price of $55.88 and a 200 day moving average price of $51.59. 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 released its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). The firm had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
In other news, Director Sydney Selati sold 10,000 shares of Monster Beverage Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 9.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Monster Beverage Corporation by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock worth $1,412,547,000 after acquiring an additional 771,913 shares during the last quarter. BlackRock Inc. grew its position in Monster Beverage Corporation by 1.7% during the 2nd quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after acquiring an additional 376,666 shares during the last quarter. State Street Corp grew its position in Monster Beverage Corporation by 1.2% during the 1st quarter. State Street Corp now owns 16,907,767 shares of the company’s stock worth $780,633,000 after acquiring an additional 203,730 shares during the last quarter. Alliancebernstein L.P. grew its position in Monster Beverage Corporation by 7.5% during the 2nd quarter. Alliancebernstein L.P. now owns 6,679,727 shares of the company’s stock worth $331,849,000 after acquiring an additional 463,345 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Monster Beverage Corporation by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 4,968,946 shares of the company’s stock worth $246,857,000 after acquiring an additional 619,349 shares during the last quarter. Institutional investors own 65.86% of the company’s stock.
Monster Beverage Corporation Company Profile
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.
Receive News & Ratings for Monster Beverage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage Corporation and related companies with MarketBeat.com's FREE daily email newsletter.