Monster Beverage Co. (NASDAQ:MNST – Get Rating) has received a ‘Buy’ consensus rating from 15 rating firms that cover the stock, Marketbeat Ratings reports. Seven analysts gave the stock a Hold rating and eight gave the company a Buy rating. The average 12-month target price among brokers that rated stocks last year is $99.46.
A number of analysts commented on the company. JPMorgan Chase & Co. lowered its price target for Monster Beverage from $90 to $87 and set the company a “neutral” valuation in a research report released Wednesday, March 30. The Guggenheim cut its price target for Monster Beverage from $109 to $105 and gave the company a Buy rating in a report released Friday, Feb. 25. Wells Fargo & Company cut its price target for Monster Beverage from $108 to $100 and gave the company an “overweight” rating in a report released Wednesday, February 16. Citigroup cut its price target for Monster Beverage from $110 to $98 and assigned the company a Buy rating in a report released on Friday, February 25. Finally, Cowen lowered its price target for Monster Beverage from $92 to $90 and gave the company a “market performance” rating in a report released on Friday, February 25th.
In other Monster Beverage news, insider Emélie Tirre sold 40,729 shares in a deal on Friday, May 13th. The shares were sold at an average price of $88.06 for a total of $3,586,595.74. Following the transaction, the insider now directly owns 19,526 shares of the company, worth approximately $1,719,459.56. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed at this link. 10.40% of the shares are currently held by company insiders.
Recently, several major investors have bought and sold MNST shares. Norges Bank bought a new position in Monster Beverage stock in Q4 for $316,325,000. Capital World Investors increased its holdings in Monster Beverage stock by 43.8% in the 4th quarter. Capital World Investors currently owns 5,341,329 shares of the company worth $512,981,000 after purchasing an additional 1,626,751 shares during the most recent quarter. Boston Partners bought a new position in Monster Beverage stock in the 1st quarter for $129,128,000. Suvretta Capital Management LLC acquired a new position in Monster Beverage stock in the 4th quarter for $109,841,000. Finally, Nordea Investment Management AB increased its holdings in Monster Beverage stock by 56.4% in the 4th quarter. Nordea Investment Management AB now owns 2,602,642 shares of the company worth $248,475,000 after acquiring an additional 938,635 shares during the last quarter. Institutional investors and hedge funds own 63.44% of the company’s shares.
Shares of MNST rose $0.94 mid-day on Friday to $89.67. The volume of trading in shares was 2,123,578 shares compared to an average trading volume of 3,001,396. The firm’s 50-day SMA is $84.25 and the 200-day SMA is $85.96. Monster Beverage has an annual minimum of $71.78 and an annual maximum of $99.89. The firm has a market cap of $47.50 billion, a PE of 35.44, a P/E/G of 2.06, and a beta of 1.01.
Monster Beverage (NASDAQ:MNST – Get Rating) last released quarterly earnings data on Thursday, May 5. The company reported earnings per share of $0.55 for the quarter, falling short of analysts’ consensus estimate of $0.60 per ($0.05). Monster Beverage had a return on equity of 21.21% and a net income of 23.32%. The firm’s revenue for the quarter was $1.52 billion, compared to the consensus estimate of $1.43 billion. In the same quarter last year, the company posted earnings per share of $0.59. Monster Beverage’s revenue was up 22.2% year-over-year. As a group, sellers analysts expect Monster Beverage to earn 2.68 EPS this year.
Monster Beverage Company Profile (Get ranked)
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells and distributes energy drinks and concentrates in the US and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands and Other. Offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice shakes, single juices and fruit drinks, ready-to-drink milk and coffee drinks, energy drinks, sports drinks, and single drinks. still water and carbonated drinks considered natural, carbonated juices and flavored carbonated drinks.
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