Monster Beverage (NASDAQ:MNST) Shares Gap Up to $52.00

Monster Beverage Co. (NASDAQ:MNSTGet Free Report)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $52.00, but opened at $53.89. Monster Beverage shares last traded at $53.02, with a volume of 4,562,729 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MNST shares. Piper Sandler upped their price target on Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Redburn Atlantic started coverage on Monster Beverage in a research note on Wednesday, March 6th. They issued a “buy” rating on the stock. Morgan Stanley reduced their price target on Monster Beverage from $68.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. BMO Capital Markets reduced their price target on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Finally, HSBC reduced their price target on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.32.

Get Our Latest Stock Report on Monster Beverage

Monster Beverage Stock Up 0.5 %

The business has a fifty day simple moving average of $53.95 and a two-hundred day simple moving average of $55.85. The company has a market cap of $54.89 billion, a P/E ratio of 33.14, a P/E/G ratio of 2.18 and a beta of 0.76.

Monster Beverage (NASDAQ:MNSTGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, equities analysts predict that Monster Beverage Co. will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its position in shares of Monster Beverage by 60.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 293,678 shares of the company’s stock valued at $17,315,000 after buying an additional 110,551 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Monster Beverage by 128.1% during the 1st quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after buying an additional 11,528 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Monster Beverage by 64.9% during the 1st quarter. Cetera Investment Advisers now owns 79,366 shares of the company’s stock valued at $4,705,000 after buying an additional 31,225 shares in the last quarter. Dock Street Asset Management Inc. lifted its holdings in Monster Beverage by 10.6% in the 1st quarter. Dock Street Asset Management Inc. now owns 326,671 shares of the company’s stock worth $19,365,000 after purchasing an additional 31,210 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in Monster Beverage by 6.9% in the 1st quarter. Atria Investments Inc now owns 175,762 shares of the company’s stock worth $10,419,000 after purchasing an additional 11,358 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Company Profile

(Get Free Report)

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.

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