Brokerages Set Monster Beverage Co. (NASDAQ:MNST) Target Price at $99.46

Monster Beverage Co. (NASDAQ:MNST – Get Rating) has received a consensus rating of “Buy” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $99.46.

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Wednesday, March 30th. Guggenheim dropped their target price on Monster Beverage from $109.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 25th. Wells Fargo & Company dropped their target price on Monster Beverage from $108.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, February 16th. Citigroup dropped their target price on Monster Beverage from $110.00 to $98.00 and set a “buy” rating for the company in a report on Friday, February 25th. Finally, Cowen dropped their target price on Monster Beverage from $92.00 to $90.00 and set a “market perform” rating for the company in a report on Friday, February 25th.

In other Monster Beverage news, insider Emelie Tirre sold 40,729 shares of the stock in a transaction on Friday, May 13th. The stock was sold at an average price of $88.06, for a total value of $3,586,595.74. Following the transaction, the insider now directly owns 19,526 shares in the company, valued at approximately $1,719,459.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.40% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of MNST. Norges Bank bought a new position in shares of Monster Beverage in the 4th quarter worth $316,325,000. Capital World Investors boosted its position in shares of Monster Beverage by 43.8% in the 4th quarter. Capital World Investors now owns 5,341,329 shares of the company’s stock worth $512,981,000 after purchasing an additional 1,626,751 shares during the last quarter. Boston Partners bought a new position in shares of Monster Beverage in the 1st quarter worth $129,128,000. Suvretta Capital Management LLC bought a new position in shares of Monster Beverage in the 4th quarter worth $109,841,000. Finally, Nordea Investment Management AB boosted its position in shares of Monster Beverage by 56.4% in the 4th quarter. Nordea Investment Management AB now owns 2,602,642 shares of the company’s stock worth $248,475,000 after purchasing an additional 938,635 shares during the last quarter. Institutional investors and hedge funds own 63.44% of the company’s stock.

Shares of MNST stock traded up $0.94 during mid-day trading on Friday, reaching $89.67. The stock had a trading volume of 2,123,578 shares, compared to its average volume of 3,001,396. The firm’s 50 day simple moving average is $84.25 and its 200 day simple moving average is $85.96. Monster Beverage has a one year low of $71.78 and a one year high of $99.89. The firm has a market cap of $47.50 billion, a PE ratio of 35.44, a P/E/G ratio of 2.06 and a beta of 1.01.

Monster Beverage (NASDAQ:MNST – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Monster Beverage had a return on equity of 21.21% and a net margin of 23.32%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business posted $0.59 EPS. Monster Beverage’s revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts expect that Monster Beverage will post 2.68 earnings per share for the current year.

Monster Beverage Company Profile (Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

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