Monster Beverage (NASDAQ:MNST) PT Lowered to $65.00

Monster Beverage (NASDAQ:MNST) had its price objective dropped by equities research analysts at Morgan Stanley from $68.00 to $65.00 in a report released on Friday, MarketBeat reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 18.18% from the stock’s previous close.

Several other equities analysts have also recently issued reports on MNST. Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. UBS Group decreased their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday. Truist Financial lowered shares of Monster Beverage from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. Jefferies Financial Group raised their target price on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Redburn Atlantic assumed coverage on Monster Beverage in a report on Wednesday, March 6th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.32.

Monster Beverage Price Performance

Shares of MNST stock opened at $55.00 on Friday. The firm has a market cap of $57.30 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.25 and a beta of 0.74. The firm has a fifty day moving average of $56.84 and a two-hundred day moving average of $55.78. Monster Beverage has a 1-year low of $47.13 and a 1-year high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 21.13%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Monster Beverage will post 1.79 EPS for the current year.

Insider Transactions at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction that occurred on 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 owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MNST. ICA Group Wealth Management LLC bought a new stake in shares of Monster Beverage during the 4th quarter worth about $27,000. Peoples Bank KS bought a new stake in Monster Beverage during the third quarter worth approximately $26,000. Tortoise Investment Management LLC grew its holdings in Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares during the last quarter. Headinvest LLC acquired a new position in Monster Beverage during the third quarter valued at approximately $28,000. 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. Institutional investors and hedge funds own 72.36% of the company’s stock.

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.