Monster Beverage (MNST) Receives Outperform Rating from Credit Suisse Group
Monster Beverage (NASDAQ:MNST)‘s stock had its “outperform” rating reiterated by research analysts at Credit Suisse Group in a research note issued on Wednesday, The Fly reports. They currently have a $77.00 target price on the stock, up from their previous target price of $69.00. Credit Suisse Group’s price objective points to a potential upside of 16.03% from the company’s previous close.
MNST has been the subject of a number of other reports. Jefferies Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Monster Beverage in a research report on Friday, October 13th. Cowen reiterated a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage in a research report on Friday, October 27th. Deutsche Bank initiated coverage on Monster Beverage in a research report on Wednesday, December 13th. They issued a “hold” rating and a $66.00 price objective for the company. BidaskClub lowered Monster Beverage from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Citigroup set a $60.00 price objective on Monster Beverage and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Monster Beverage presently has an average rating of “Buy” and a consensus price target of $62.17.
Shares of Monster Beverage (MNST) opened at $66.36 on Wednesday. The company has a market capitalization of $36,410.00, a PE ratio of 48.44, a P/E/G ratio of 1.88 and a beta of 0.94. Monster Beverage has a 12-month low of $41.02 and a 12-month high of $66.36.
In other Monster Beverage news, CEO Rodney C. Sacks sold 697 shares of the firm’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $44,963.47. Following the transaction, the chief executive officer now owns 963,789 shares in the company, valued at $62,174,028.39. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Rodney C. Sacks sold 189,861 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total value of $12,135,915.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,026 shares of company stock worth $17,179,867. Company insiders own 9.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Skylands Capital LLC bought a new position in shares of Monster Beverage during the 3rd quarter valued at about $276,000. Douglas Lane & Associates LLC lifted its holdings in shares of Monster Beverage by 31.1% during the 3rd quarter. Douglas Lane & Associates LLC now owns 8,005 shares of the company’s stock valued at $442,000 after purchasing an additional 1,900 shares in the last quarter. TT International lifted its holdings in shares of Monster Beverage by 6.2% during the 2nd quarter. TT International now owns 48,157 shares of the company’s stock valued at $2,392,000 after purchasing an additional 2,818 shares in the last quarter. Castleark Management LLC lifted its holdings in shares of Monster Beverage by 63.1% during the 2nd quarter. Castleark Management LLC now owns 598,595 shares of the company’s stock valued at $29,738,000 after purchasing an additional 231,489 shares in the last quarter. Finally, Rathbone Brothers plc lifted its holdings in shares of Monster Beverage by 21.2% during the 3rd quarter. Rathbone Brothers plc now owns 476,150 shares of the company’s stock valued at $26,307,000 after purchasing an additional 83,150 shares in the last quarter. Institutional investors and hedge funds own 65.69% of the company’s stock.
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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.
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