TD Cowen Issues Positive Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price objective hoisted by TD Cowen from $90.00 to $95.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus decreased their price target on shares of Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Sanford C. Bernstein started coverage on shares of Monster Beverage in a research report on Friday, June 12th. They issued a “market perform” rating and a $95.00 target price on the stock. Royal Bank Of Canada boosted their price target on shares of Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Morgan Stanley set a $103.00 price target on shares of Monster Beverage and gave the stock an “overweight” rating in a research note on Monday, June 1st. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.95.

Monster Beverage Price Performance

MNST opened at $95.15 on Wednesday. The company has a fifty day moving average price of $89.22 and a 200-day moving average price of $81.91. The firm has a market capitalization of $93.06 billion, a P/E ratio of 45.97, a price-to-earnings-growth ratio of 3.19 and a beta of 0.53. Monster Beverage has a one year low of $58.09 and a one year high of $99.15.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. Monster Beverage’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. On average, analysts expect that Monster Beverage will post 2.31 earnings per share for the current year.

Monster Beverage announced that its board has authorized a stock buyback plan on Friday, May 15th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $85.74, for a total value of $857,400.00. Following the sale, the insider owned 71,763 shares in the company, valued at approximately $6,152,959.62. This represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark J. Hall sold 54,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total value of $4,633,740.00. Following the transaction, the director owned 299,246 shares of the company’s stock, valued at $25,678,299.26. The trade was a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 178,700 shares of company stock valued at $15,457,562 over the last 90 days. 8.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Monster Beverage by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company’s stock worth $5,212,080,000 after acquiring an additional 497,108 shares during the period. State Street Corp lifted its position in shares of Monster Beverage by 0.8% in the fourth quarter. State Street Corp now owns 38,021,648 shares of the company’s stock valued at $2,915,120,000 after acquiring an additional 302,557 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Monster Beverage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 19,625,097 shares of the company’s stock worth $1,509,369,000 after acquiring an additional 330,766 shares during the period. Bank of America Corp DE boosted its stake in shares of Monster Beverage by 0.8% in the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after acquiring an additional 99,168 shares during the period. Finally, Invesco Ltd. grew its position in shares of Monster Beverage by 6.3% during the third quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock worth $785,885,000 after purchasing an additional 692,192 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Monster Beverage

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Monster Beverage announced a 2-for-1 stock split in the form of a 100% stock dividend, with record date set for July 24 and the split-adjusted shares expected to begin trading on August 11. Stock splits often boost investor interest and improve trading liquidity. Monster Beverage Declares Two-for-One Stock Split
• Positive Sentiment: Wells Fargo raised its price target on Monster Beverage to $105 from $97 and kept an overweight rating, signaling confidence in further upside. Wells Fargo price target hike
• Positive Sentiment: Royal Bank of Canada increased its target to $97 from $88 and maintained an outperform rating, adding to bullish sentiment around the stock. RBC price target hike
• Neutral Sentiment: TD Cowen also lifted its price target to $95 from $90, but kept a hold rating, suggesting limited near-term upside from its view. TD Cowen price target hike

Monster Beverage Company Profile

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.