Monster Beverage (NASDAQ:MNST) Price Target Cut to $63.00

Monster Beverage (NASDAQ:MNST) had its target price cut by investment analysts at Stifel Nicolaus from $65.00 to $63.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 17.87% from the stock’s current price.

Several other research firms have also recently weighed in on MNST. Royal Bank of Canada lifted their price target on Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Morgan Stanley lifted their price target on Monster Beverage from $63.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. HSBC decreased their price target on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. BMO Capital Markets lifted their price target on Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, January 17th. Finally, Truist Financial lowered Monster Beverage from a “buy” rating to a “sell” rating and decreased their price target for the company from $65.00 to $46.00 in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.68.

Monster Beverage Stock Down 1.3 %

Shares of MNST opened at $53.45 on Monday. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22. The firm has a market capitalization of $55.62 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The stock’s fifty day simple moving average is $56.91 and its 200-day simple moving average is $55.77.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. Analysts anticipate that Monster Beverage will post 1.81 EPS for the current year.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the transaction, the director now directly owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MNST. Peoples Bank KS acquired a new position in Monster Beverage during the 3rd quarter worth approximately $26,000. ICA Group Wealth Management LLC bought a new stake in Monster Beverage during the 4th quarter worth approximately $27,000. Headinvest LLC bought a new position in shares of Monster Beverage in the third quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its holdings in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Monster Beverage in the third quarter valued at approximately $31,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.