Monster Beverage (NASDAQ:MNST) Given New $85.00 Price Target at Wells Fargo & Company

Monster Beverage (NASDAQ:MNST) had its price target cut by Wells Fargo & Company from $90.00 to $85.00 in a research note published on Wednesday morning, MarketBeat reports. They currently have an overweight rating on the stock.

MNST has been the topic of several other research reports. Zacks Research lowered Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. TD Cowen increased their target price on Monster Beverage from $80.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. BNP Paribas Exane raised Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price on the stock in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. increased their target price on Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.95.

Monster Beverage Stock Performance

Monster Beverage stock opened at $75.14 on Wednesday. The firm has a market cap of $73.48 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.39 and a beta of 0.51. The business’s fifty day moving average is $78.26 and its two-hundred day moving average is $74.69. Monster Beverage has a 52 week low of $54.73 and a 52 week high of $87.38.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, equities research analysts predict that Monster Beverage will post 1.62 earnings per share for the current year.

Institutional Investors Weigh In On Monster Beverage

Several large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC grew its holdings in shares of Monster Beverage by 222.4% during the third quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock worth $3,385,000 after buying an additional 34,697 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Monster Beverage by 87.8% during the third quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock worth $2,163,000 after buying an additional 15,029 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Monster Beverage during the third quarter worth about $59,170,000. Inscription Capital LLC grew its holdings in shares of Monster Beverage by 130.6% during the third quarter. Inscription Capital LLC now owns 25,260 shares of the company’s stock worth $1,700,000 after buying an additional 14,305 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Monster Beverage by 2,436.3% during the third quarter. UMB Bank n.a. now owns 57,371 shares of the company’s stock worth $3,862,000 after buying an additional 55,109 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.