Monster Beverage (NASDAQ:MNST) Sets New 1-Year High on Analyst Upgrade

Monster Beverage Corporation (NASDAQ:MNST)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Evercore raised their price target on the stock from $80.00 to $85.00. Evercore currently has an outperform rating on the stock. Monster Beverage traded as high as $84.88 and last traded at $84.69, with a volume of 6208301 shares changing hands. The stock had previously closed at $83.76.

Other research analysts also recently issued reports about the company. Wells Fargo & Company restated an “overweight” rating and issued a $86.00 price target (up from $83.00) on shares of Monster Beverage in a research note on Monday, January 5th. Piper Sandler set a $85.00 price objective on Monster Beverage in a report on Wednesday, December 3rd. Citigroup reissued a “buy” rating and issued a $90.00 target price (up from $87.00) on shares of Monster Beverage in a research note on Wednesday, January 14th. Bank of America upped their price target on shares of Monster Beverage from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Stifel Nicolaus set a $82.00 price target on shares of Monster Beverage and gave the company a “buy” rating in a research note on Friday, December 12th. Fourteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the transaction, the insider directly owned 63,939 shares in the company, valued at $4,687,368.09. The trade was a 31.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.58, for a total transaction of $15,197,433.94. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its stake in shares of Monster Beverage by 397.9% during the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock worth $890,000 after purchasing an additional 12,148 shares during the period. Sivia Capital Partners LLC grew its holdings in Monster Beverage by 247.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after buying an additional 9,251 shares in the last quarter. D.A. Davidson & CO. bought a new position in Monster Beverage during the 2nd quarter worth $236,000. Focus Partners Advisor Solutions LLC increased its position in Monster Beverage by 398.7% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 24,814 shares of the company’s stock worth $1,554,000 after buying an additional 19,838 shares during the period. Finally, Leavell Investment Management Inc. acquired a new stake in shares of Monster Beverage during the second quarter worth $202,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Price Performance

The stock’s 50-day moving average price is $79.28 and its 200-day moving average price is $71.92. The company has a market cap of $82.74 billion, a P/E ratio of 48.12, a PEG ratio of 2.17 and a beta of 0.45.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.