Monster Beverage Corporation (NASDAQ:MNST)‘s stock had its “outperform” rating restated by research analysts at Credit Suisse Group in a research report issued on Thursday, September 7th. They currently have a $61.00 price target on the stock. Credit Suisse Group’s target price indicates a potential upside of 8.58% from the stock’s previous close.
MNST has been the subject of several other reports. Morgan Stanley reaffirmed an “overweight” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Monday, May 15th. Zacks Investment Research cut Monster Beverage Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $42.00 price objective (down from $45.00) on shares of Monster Beverage Corporation in a research report on Monday, August 7th. Cowen and Company reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Thursday, June 22nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Wednesday, September 6th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $56.86.
Monster Beverage Corporation (MNST) traded down 0.71% during trading on Thursday, hitting $56.18. 4,345,213 shares of the stock were exchanged. The company has a 50-day moving average price of $54.65 and a 200 day moving average price of $49.93. The firm has a market capitalization of $31.92 billion, a price-to-earnings ratio of 42.50 and a beta of 0.99. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). The business had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 earnings per share. Equities analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.
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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the sale, the director now directly owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.40% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of MNST. Waldron LP raised its stake in shares of Monster Beverage Corporation by 3.5% during the 1st quarter. Waldron LP now owns 6,129 shares of the company’s stock worth $282,000 after buying an additional 210 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Monster Beverage Corporation during the 1st quarter worth approximately $216,000. Daiwa Securities Group Inc. raised its stake in shares of Monster Beverage Corporation by 34.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,950 shares of the company’s stock worth $644,000 after buying an additional 3,600 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Monster Beverage Corporation by 1.7% during the 1st quarter. Pictet Asset Management Ltd. now owns 214,496 shares of the company’s stock worth $9,903,000 after buying an additional 3,600 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of Monster Beverage Corporation by 19.0% during the 1st quarter. World Asset Management Inc now owns 44,172 shares of the company’s stock worth $2,039,000 after buying an additional 7,052 shares in the last quarter. 65.88% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Corporation Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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