Monster Beverage Corp. (MNST) Receives $168.69 Consensus Target Price from Brokerages
Shares of Monster Beverage Corp. (NASDAQ:MNST) have been given a consensus rating of “Buy” by the eighteen ratings firms that are currently covering the company. Five equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $168.69.
A number of research analysts have recently issued reports on the company. Vetr raised Monster Beverage Corp. from a “hold” rating to a “buy” rating and set a $157.53 price objective on the stock in a research note on Thursday, September 15th. Credit Suisse Group AG assumed coverage on Monster Beverage Corp. in a research note on Thursday, September 15th. They set an “outperform” rating and a $187.00 price objective on the stock. Susquehanna reaffirmed a “hold” rating on shares of Monster Beverage Corp. in a research note on Wednesday, September 7th. Credit Agricole SA reaffirmed a “buy” rating on shares of Monster Beverage Corp. in a research note on Monday, August 22nd. Finally, Jefferies Group reaffirmed a “hold” rating and set a $175.00 price objective (up from $162.00) on shares of Monster Beverage Corp. in a research note on Thursday, August 18th.
In other news, VP Thomas J. Kelly sold 10,000 shares of Monster Beverage Corp. stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the completion of the transaction, the vice president now directly owns 5,717 shares in the company, valued at $912,776.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. NN Investment Partners Holdings N.V. purchased a new position in shares of Monster Beverage Corp. during the first quarter worth $121,000. Palisade Capital Management LLC NJ purchased a new position in shares of Monster Beverage Corp. during the first quarter worth $356,000. Aviva PLC raised its position in shares of Monster Beverage Corp. by 1.1% in the first quarter. Aviva PLC now owns 83,727 shares of the company’s stock worth $11,168,000 after buying an additional 890 shares during the last quarter. Credit Agricole S A raised its position in shares of Monster Beverage Corp. by 104.2% in the first quarter. Credit Agricole S A now owns 300,849 shares of the company’s stock worth $40,128,000 after buying an additional 153,523 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Monster Beverage Corp. by 85.5% in the first quarter. Canada Pension Plan Investment Board now owns 165,365 shares of the company’s stock worth $22,056,000 after buying an additional 76,200 shares during the last quarter. Institutional investors own 67.42% of the company’s stock.
Monster Beverage Corp. (NASDAQ:MNST) opened at 145.08 on Friday. The firm has a market capitalization of $27.62 billion, a P/E ratio of 45.28 and a beta of 0.74. Monster Beverage Corp. has a 1-year low of $113.08 and a 1-year high of $166.50. The company’s 50-day moving average price is $148.29 and its 200-day moving average price is $149.53. Monster Beverage Corp. shares are set to split on the morning of Thursday, November 10th. The 3-1 split was announced on Friday, October 14th. The newly created shares will be issued to shareholders after the market closes on Wednesday, November 9th.
Monster Beverage Corp. (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by $0.04. Monster Beverage Corp. had a net margin of 22.73% and a return on equity of 15.46%. The company had revenue of $945.80 million for the quarter, compared to the consensus estimate of $804.24 million. During the same period last year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts expect that Monster Beverage Corp. will post $3.90 earnings per share for the current fiscal year.
About Monster Beverage Corp.
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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