Monster Beverage (NASDAQ:MNST) had its price target boosted by BMO Capital Markets to $71.00 in a research report issued on Friday. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 6.19% from the stock’s previous close.
MNST has been the subject of several other reports. Citigroup set a $60.00 price objective on shares of Monster Beverage and gave the stock a “buy” rating in a report on Wednesday, October 18th. Deutsche Bank began coverage on shares of Monster Beverage in a report on Wednesday, December 13th. They set a “hold” rating and a $66.00 price objective for the company. Susquehanna Bancshares set a $51.00 price objective on shares of Monster Beverage and gave the stock a “sell” rating in a report on Monday, November 20th. Credit Suisse Group decreased their price objective on shares of Monster Beverage from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $57.00 price objective on shares of Monster Beverage in a report on Saturday, September 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.82.
Monster Beverage (MNST) traded up $0.39 during mid-day trading on Friday, reaching $66.86. 2,497,713 shares of the company’s stock traded hands, compared to its average volume of 2,420,485. The company has a market capitalization of $37,490.00, a P/E ratio of 48.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94. Monster Beverage has a 12 month low of $41.02 and a 12 month high of $67.34.
In related news, Chairman Rodney C. Sacks sold 189,861 shares of the company’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $63.92, for a total transaction of $12,135,915.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Rodney C. Sacks sold 62,386 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total transaction of $4,025,768.58. Following the transaction, the chairman now owns 949,806 shares of the company’s stock, valued at $61,290,981.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,026 shares of company stock valued at $17,179,867. Corporate insiders own 9.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Monster Beverage by 173.7% in the 4th quarter. FMR LLC now owns 44,625,735 shares of the company’s stock valued at $1,978,704,000 after buying an additional 28,319,459 shares in the last quarter. BlackRock Inc. raised its stake in shares of Monster Beverage by 1,887.5% in the 1st quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock valued at $995,459,000 after buying an additional 20,475,879 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Monster Beverage by 214.4% in the 4th quarter. Loomis Sayles & Co. L P now owns 20,452,241 shares of the company’s stock valued at $906,852,000 after buying an additional 13,947,616 shares in the last quarter. Sands Capital Management LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at $569,690,000. Finally, State Street Corp raised its stake in shares of Monster Beverage by 200.8% in the 4th quarter. State Street Corp now owns 16,704,037 shares of the company’s stock valued at $740,660,000 after buying an additional 11,150,044 shares in the last quarter. Hedge funds and other institutional investors 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.
