Monster Beverage Co. (NASDAQ:MNST) has been assigned a consensus recommendation of “Buy” from the seventeen analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $65.92.
A number of analysts have issued reports on MNST shares. Deutsche Bank upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Monday, March 5th. BMO Capital Markets boosted their price objective on shares of Monster Beverage to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Morgan Stanley reduced their price objective on shares of Monster Beverage from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Friday, March 2nd. Stifel Nicolaus restated a “buy” rating and issued a $73.00 price objective (up from $61.00) on shares of Monster Beverage in a research note on Tuesday, January 16th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $77.00 price objective (up from $69.00) on shares of Monster Beverage in a research note on Wednesday, January 17th.
In related news, VP Thomas J. Kelly sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $58.31, for a total transaction of $874,650.00. Following the completion of the sale, the vice president now directly owns 9,651 shares of the company’s stock, valued at approximately $562,749.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark J. Hall sold 33,000 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $58.11, for a total value of $1,917,630.00. Following the sale, the director now directly owns 791,808 shares of the company’s stock, valued at $46,011,962.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,796 shares of company stock valued at $20,407,966. 9.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB grew its stake in shares of Monster Beverage by 7.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 78,647 shares of the company’s stock worth $4,978,000 after acquiring an additional 5,305 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Monster Beverage during the fourth quarter worth about $342,000. Slow Capital Inc. acquired a new position in Monster Beverage during the fourth quarter worth about $223,000. BB&T Investment Services Inc. grew its position in Monster Beverage by 29.3% during the fourth quarter. BB&T Investment Services Inc. now owns 24,220 shares of the company’s stock worth $1,525,000 after buying an additional 5,491 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new position in Monster Beverage during the fourth quarter worth about $8,062,000. 65.25% of the stock is owned by institutional investors.
Monster Beverage (MNST) traded down $0.83 during mid-day trading on Friday, hitting $57.25. 1,640,807 shares of the company traded hands, compared to its average volume of 3,004,929. The firm has a market capitalization of $33,236.52, a PE ratio of 40.62, a P/E/G ratio of 1.78 and a beta of 1.14. Monster Beverage has a twelve month low of $44.35 and a twelve month high of $70.21.
Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, February 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The business had revenue of $810.40 million during the quarter, compared to analyst estimates of $841.25 million. Monster Beverage had a net margin of 24.36% and a return on equity of 22.54%. Monster Beverage’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. equities research analysts forecast that Monster Beverage will post 1.78 EPS for the current fiscal year.
Monster Beverage announced that its board has initiated a share repurchase program on Thursday, March 1st that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
About Monster Beverage
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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