Monster Beverage (NASDAQ:MNST) PT Lowered to $56.00 at BMO Capital Markets

Monster Beverage (NASDAQ:MNST) had its price target decreased by BMO Capital Markets from $58.00 to $56.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 1.82% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. UBS Group dropped their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday. Piper Sandler increased their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. lowered shares of Monster Beverage from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $59.00 in a research report on Thursday, April 25th. Stifel Nicolaus lowered their price objective on Monster Beverage from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Royal Bank of Canada lifted their target price on Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average target price of $61.32.

Monster Beverage Trading Up 3.0 %

MNST opened at $55.00 on Friday. The firm has a market capitalization of $57.30 billion, a PE ratio of 34.59, a PEG ratio of 2.25 and a beta of 0.74. Monster Beverage has a twelve month low of $47.13 and a twelve month high of $61.22. The firm’s 50-day moving average price is $56.84 and its 200 day moving average price is $55.78.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 21.13% and a net margin of 22.83%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, analysts predict that Monster Beverage will post 1.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of Monster Beverage by 34.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock valued at $1,421,000 after purchasing an additional 6,946 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Monster Beverage by 225.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 84,276 shares of the company’s stock worth $4,462,000 after buying an additional 58,360 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Monster Beverage by 43.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 6,639 shares of the company’s stock worth $352,000 after acquiring an additional 2,000 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Monster Beverage by 17.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,071 shares of the company’s stock worth $586,000 after acquiring an additional 1,613 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new position in shares of Monster Beverage in the 3rd quarter valued at about $244,000. Hedge funds and other institutional investors 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.