Macquarie initiated coverage on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research note issued to investors on Thursday. The brokerage set an “outperform” rating on the stock.

A number of other analysts have also weighed in on MNST. Credit Suisse Group lowered shares of Monster Beverage Corporation to a “hold” rating in a report on Friday, September 8th. BMO Capital Markets reiterated a “buy” rating and set a $58.00 target price on shares of Monster Beverage Corporation in a report on Wednesday, September 6th. BidaskClub upgraded shares of Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research lowered shares of Monster Beverage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $57.00 target price on shares of Monster Beverage Corporation in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.28.

Shares of Monster Beverage Corporation (NASDAQ MNST) traded up 0.33% on Thursday, hitting $56.56. The stock had a trading volume of 2,232,859 shares. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25. The firm has a market capitalization of $32.14 billion, a price-to-earnings ratio of 42.79 and a beta of 0.99. The firm has a 50 day moving average of $54.42 and a 200-day moving average of $49.73.

Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The company had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. During the same period last year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current year.

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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the sale, the director now directly owns 52,000 shares in the company, valued at $2,912,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in Monster Beverage Corporation by 0.4% in the first quarter. FMR LLC now owns 44,820,069 shares of the company’s stock worth $2,069,342,000 after buying an additional 194,334 shares during the period. Vanguard Group Inc. lifted its holdings in Monster Beverage Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock worth $1,412,547,000 after buying an additional 771,913 shares during the period. BlackRock Inc. lifted its holdings in Monster Beverage Corporation by 1.7% in the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after buying an additional 376,666 shares during the period. Loomis Sayles & Co. L P lifted its holdings in Monster Beverage Corporation by 0.8% in the first quarter. Loomis Sayles & Co. L P now owns 20,621,437 shares of the company’s stock worth $952,091,000 after buying an additional 169,196 shares during the period. Finally, State Street Corp lifted its holdings in Monster Beverage Corporation by 1.2% in the first quarter. State Street Corp now owns 16,907,767 shares of the company’s stock worth $780,633,000 after buying an additional 203,730 shares during the period. Institutional investors and hedge funds own 65.88% of the company’s stock.

Monster Beverage Corporation Company Profile

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.

Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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