Monster Beverage Corporation (MNST) Research Coverage Started at Macquarie

Macquarie initiated coverage on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research note issued to investors on Thursday morning, Marketbeat reports. The brokerage issued an outperform rating and a $65.00 price objective on the stock.

Several other equities research analysts have also recently commented on MNST. Vetr upgraded shares of Monster Beverage Corporation from a buy rating to a strong-buy rating and set a $52.90 price target for the company in a research report on Wednesday, May 17th. BMO Capital Markets reiterated an outperform rating and set a $58.00 price target on shares of Monster Beverage Corporation in a research report on Friday, June 9th. Jefferies Group LLC reiterated a buy rating and set a $63.00 price target on shares of Monster Beverage Corporation in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $57.00 price target on shares of Monster Beverage Corporation in a research report on Friday, June 16th. Finally, Susquehanna Bancshares Inc set a $42.00 price target on shares of Monster Beverage Corporation and gave the stock a hold rating in a research report on Monday, June 19th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $56.86.

Shares of Monster Beverage Corporation (NASDAQ:MNST) opened at 56.18 on Thursday. The company’s 50-day moving average is $54.65 and its 200 day moving average is $49.93. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25. 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 (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The business had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.

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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of Monster Beverage Corporation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now owns 52,000 shares of the company’s stock, valued at $2,912,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. lifted its stake in Monster Beverage Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,349 shares of the company’s stock valued at $514,000 after buying an additional 27 shares in the last quarter. United Capital Financial Advisers LLC lifted its stake in Monster Beverage Corporation by 0.4% in the first quarter. United Capital Financial Advisers LLC now owns 9,878 shares of the company’s stock valued at $456,000 after buying an additional 38 shares in the last quarter. Accuvest Global Advisors lifted its stake in Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock valued at $510,000 after buying an additional 38 shares in the last quarter. Wendell David Associates Inc. lifted its stake in Monster Beverage Corporation by 0.9% in the second quarter. Wendell David Associates Inc. now owns 7,264 shares of the company’s stock valued at $361,000 after buying an additional 64 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Monster Beverage Corporation by 0.5% in the second quarter. IFP Advisors Inc now owns 12,691 shares of the company’s stock valued at $630,000 after buying an additional 66 shares in the last quarter. 65.88% of the stock is currently owned by hedge funds and other institutional investors.

About Monster Beverage Corporation

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.

Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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