Monster Beverage (NASDAQ:MNST) Rating Lowered to Sell at Truist Financial

Monster Beverage (NASDAQ:MNST) was downgraded by Truist Financial from a “buy” rating to a “sell” rating in a report released on Thursday, Marketbeat reports. They presently have a $46.00 target price on the stock, down from their prior target price of $65.00. Truist Financial’s price target suggests a potential downside of 13.81% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada boosted their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Citigroup upped their price objective on shares of Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Redburn Atlantic assumed coverage on Monster Beverage in a report on Wednesday, March 6th. They issued a “buy” rating for the company. Finally, HSBC decreased their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.79.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $53.37 on Thursday. The stock’s 50-day moving average is $56.97 and its 200-day moving average is $55.60. The company has a market cap of $55.54 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.22 and a beta of 0.72. Monster Beverage has a 52-week low of $47.13 and a 52-week high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.28 EPS. The company’s revenue was up 14.4% on a year-over-year basis. As a group, equities analysts predict that Monster Beverage will post 1.81 EPS for the current year.

Insider Transactions at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the sale, the director now owns 777,840 shares of the company’s stock, valued at $45,542,532. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 9.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of MNST. Peoples Bank KS acquired a new position in shares of Monster Beverage during the third quarter worth approximately $26,000. ICA Group Wealth Management LLC bought a new position in Monster Beverage in the 4th quarter valued at $27,000. Headinvest LLC acquired a new stake in shares of Monster Beverage in the 3rd quarter valued at $28,000. Tortoise Investment Management LLC raised its position in shares of Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Monster Beverage during the third quarter valued at $31,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

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, Alcohol Brands, and Other.