Monster Beverage Corporation (MNST) Rating Reiterated by BMO Capital Markets
Monster Beverage Corporation (NASDAQ:MNST)‘s stock had its “buy” rating restated by equities researchers at BMO Capital Markets in a report released on Thursday. They presently have a $58.00 price objective on the stock. BMO Capital Markets’ price objective points to a potential upside of 0.12% from the stock’s previous close.
A number of other analysts also recently commented on the stock. Credit Suisse Group downgraded shares of Monster Beverage Corporation to a “hold” rating in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Monday, July 17th. Cowen and Company reiterated a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a report on Friday, July 14th. Macquarie started coverage on shares of Monster Beverage Corporation in a report on Thursday, September 14th. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a report on Saturday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Monster Beverage Corporation currently has a consensus rating of “Buy” and a consensus price target of $57.06.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.01). The business had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS.
In related news, Director Sydney Selati sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were 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 of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.40% of the company’s stock.
Several large investors have recently bought and sold shares of MNST. Jennison Associates boosted its position in shares of Monster Beverage Corporation by 25.9% during the 3rd quarter. Jennison Associates now owns 3,662,137 shares of the company’s stock worth $494,901,000 after purchasing an additional 753,819 shares during the period. Perigon Wealth Management boosted its position in shares of Monster Beverage Corporation by 2.8% during the 3rd quarter. Perigon Wealth Management now owns 3,841 shares of the company’s stock worth $519,000 after purchasing an additional 106 shares during the period. Eagle Asset Management boosted its position in shares of Monster Beverage Corporation by 108.0% during the 3rd quarter. Eagle Asset Management now owns 794,656 shares of the company’s stock worth $107,388,000 after purchasing an additional 412,601 shares during the period. MUFG Americas purchased a new position in shares of Monster Beverage Corporation during the 3rd quarter worth approximately $1,021,000. Finally, Janus Capital Management boosted its position in shares of Monster Beverage Corporation by 23.1% during the 3rd quarter. Janus Capital Management now owns 799,310 shares of the company’s stock worth $108,019,000 after purchasing an additional 149,830 shares during the period. 65.99% of the stock is owned by hedge funds and other institutional investors.
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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