Monster Beverage Corporation (MNST) Given “Buy” Rating at Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research report released on Friday morning. The firm currently has a $65.00 price objective on the stock.
MNST has been the topic of several other research reports. Susquehanna Bancshares Inc reiterated a hold rating and issued a $42.00 price target (down previously from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Zacks Investment Research cut Monster Beverage Corporation from a hold rating to a sell rating in a research note on Wednesday, July 5th. Cowen and Company reiterated an outperform rating and issued a $58.00 price target on shares of Monster Beverage Corporation in a research note on Thursday, June 22nd. BMO Capital Markets reiterated a buy rating and issued a $58.00 price target on shares of Monster Beverage Corporation in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $57.00 price target on shares of Monster Beverage Corporation in a research note on Saturday, September 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $56.86.
Monster Beverage Corporation (MNST) traded down 0.23% on Friday, hitting $55.83. The stock had a trading volume of 970,756 shares. Monster Beverage Corporation has a 12-month low of $40.64 and a 12-month high of $57.25. The firm has a market cap of $31.72 billion, a PE ratio of 42.23 and a beta of 1.02. The company’s 50 day moving average is $55.76 and its 200 day moving average is $51.24.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The business had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
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In related news, Director Sydney Selati sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the director now directly owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Monster Beverage Corporation in the 2nd quarter worth approximately $11,992,000. Toronto Dominion Bank grew its holdings in Monster Beverage Corporation by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 136,529 shares of the company’s stock worth $6,782,000 after buying an additional 27,994 shares in the last quarter. WINTON GROUP Ltd grew its holdings in Monster Beverage Corporation by 1,476.5% in the 2nd quarter. WINTON GROUP Ltd now owns 181,329 shares of the company’s stock worth $9,008,000 after buying an additional 169,827 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Monster Beverage Corporation by 3.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 299,149 shares of the company’s stock worth $14,862,000 after buying an additional 10,544 shares in the last quarter. Finally, Covington Capital Management bought a new position in Monster Beverage Corporation in the 2nd quarter worth approximately $206,000. 65.89% of the stock is owned by institutional investors and hedge funds.
About Monster Beverage Corporation
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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