Monster Beverage (NASDAQ:MNST) had its price target increased by equities researchers at Wells Fargo & Co from $54.00 to $60.00 in a research note issued to investors on Thursday. The brokerage presently has a “market perform” rating on the stock. Wells Fargo & Co’s target price suggests a potential downside of 4.94% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on MNST. BMO Capital Markets restated a “buy” rating and set a $58.00 price target on shares of Monster Beverage in a research note on Wednesday, September 6th. Credit Suisse Group reiterated an “outperform” rating and set a $61.00 price objective on shares of Monster Beverage in a research note on Thursday, September 7th. Macquarie assumed coverage on Monster Beverage in a research note on Thursday, September 14th. They set an “outperform” rating and a $65.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and set a $61.00 price objective on shares of Monster Beverage in a research note on Friday, September 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage in a research note on Saturday, September 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.99.
Shares of Monster Beverage (NASDAQ MNST) opened at $63.12 on Thursday. The stock has a market capitalization of $35,600.00, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.96 and a beta of 0.94. Monster Beverage has a 52 week low of $41.02 and a 52 week high of $64.79.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The business had revenue of $909.50 million during the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. equities analysts forecast that Monster Beverage will post 1.48 EPS for the current year.
In related news, CEO Rodney C. Sacks sold 697 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $64.51, for a total value of $44,963.47. Following the transaction, the chief executive officer now directly owns 963,789 shares of the company’s stock, valued at approximately $62,174,028.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Rodney C. Sacks sold 898 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $57,929.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,657 shares of company stock valued at $12,251,775. 9.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MNST. Commonwealth Bank of Australia lifted its holdings in Monster Beverage 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 in the last quarter. Liberty Capital Management Inc. lifted its holdings in Monster Beverage by 2,028.0% in the 3rd quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after purchasing an additional 2,028 shares in the last quarter. Sun Life Financial INC raised its holdings in shares of Monster Beverage by 29,250.0% during the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after acquiring an additional 2,925 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Monster Beverage by 397.6% during the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter worth approximately $169,000. 65.62% of the stock is currently owned by institutional investors.
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Monster Beverage 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.