Monster Beverage (NASDAQ:MNST) Price Target Raised to $56.00

Monster Beverage (NASDAQ:MNST) had its price target boosted by Roth Mkm from $50.00 to $56.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on the stock. Truist Financial increased their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Monster Beverage from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, February 28th. UBS Group upped their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Citigroup upped their target price on shares of Monster Beverage from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Finally, TD Cowen upped their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.50.

Monster Beverage Price Performance

Monster Beverage stock opened at $62.86 on Wednesday. Monster Beverage has a 52-week low of $43.32 and a 52-week high of $62.92. The firm has a fifty day moving average of $58.49 and a 200-day moving average of $54.24. The firm has a market capitalization of $61.30 billion, a P/E ratio of 40.30, a PEG ratio of 2.28 and a beta of 0.63. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Monster Beverage will post 1.62 EPS for the current year.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the sale, the chief financial officer now directly owns 72,273 shares of the company’s stock, valued at $3,994,528.71. This represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Emelie Tirre sold 91,316 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares in the company, valued at $4,220,011.38. This trade represents a 54.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock valued at $11,484,440 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Institutional Trading of Monster Beverage

Institutional investors and hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 203 shares during the period. Spire Wealth Management acquired a new stake in shares of Monster Beverage during the fourth quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in shares of Monster Beverage during the first quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Monster Beverage during the fourth quarter worth $30,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Monster Beverage during the fourth quarter worth $31,000. 72.36% of the stock is owned by institutional investors and hedge funds.

About Monster Beverage

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.