Monster Beverage (NASDAQ:MNST) Given New $80.00 Price Target at TD Cowen

Monster Beverage (NASDAQ:MNST) had its target price cut by TD Cowen from $88.00 to $80.00 in a research note issued to investors on Monday morning, MarketBeat reports. They currently have a hold rating on the stock.

A number of other analysts have also weighed in on MNST. Piper Sandler upped their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Stifel Nicolaus upped their price objective on shares of Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Zacks Research lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Monster Beverage Price Performance

NASDAQ:MNST opened at $77.23 on Monday. Monster Beverage has a 1-year low of $57.01 and a 1-year high of $87.38. The company has a 50-day moving average of $77.38 and a 200 day moving average of $75.31. The firm has a market cap of $75.52 billion, a PE ratio of 39.81, a price-to-earnings-growth ratio of 2.68 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Sell-side analysts anticipate that Monster Beverage will post 2.29 EPS for the current fiscal year.

Institutional Trading of Monster Beverage

Several hedge funds have recently modified their holdings of MNST. Jones Financial Companies Lllp lifted its position in shares of Monster Beverage by 397.9% during the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after buying an additional 12,148 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Monster Beverage by 247.7% during the second quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after buying an additional 9,251 shares during the last quarter. Cresset Asset Management LLC lifted its position in shares of Monster Beverage by 23.9% during the second quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock valued at $417,000 after buying an additional 1,281 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Monster Beverage by 55.9% during the second quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock valued at $301,000 after buying an additional 1,721 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Monster Beverage by 151.7% during the second quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock valued at $2,134,000 after buying an additional 20,538 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other 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.