Monster Beverage (NASDAQ:MNST) Price Target Cut to $63.00 by Analysts at Stifel Nicolaus

Monster Beverage (NASDAQ:MNST) had its price target reduced by equities research analysts at Stifel Nicolaus from $65.00 to $63.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 17.41% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Redburn Atlantic initiated coverage on shares of Monster Beverage in a report on Wednesday, March 6th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lowered shares of Monster Beverage from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $66.00 to $59.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, February 26th. Finally, Truist Financial lowered shares of Monster Beverage from a “buy” rating to a “sell” rating and reduced their target price for the company from $65.00 to $46.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.68.

Monster Beverage Stock Performance

NASDAQ MNST traded up $0.29 on Monday, hitting $53.66. The stock had a trading volume of 298,975 shares, compared to its average volume of 5,325,433. Monster Beverage has a 52-week low of $47.13 and a 52-week high of $61.22. The company has a market capitalization of $55.84 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The firm has a 50-day moving average of $56.97 and a 200-day moving average of $55.68.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, research analysts anticipate that Monster Beverage will post 1.81 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the sale, the director now directly owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently modified their holdings of MNST. BLB&B Advisors LLC lifted its position in Monster Beverage by 7.3% during the 1st quarter. BLB&B Advisors LLC now owns 135,229 shares of the company’s stock valued at $8,016,000 after acquiring an additional 9,151 shares during the period. McKinley Carter Wealth Services Inc. lifted its position in Monster Beverage by 12.7% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 95,721 shares of the company’s stock valued at $5,674,000 after acquiring an additional 10,755 shares during the period. Sumitomo Life Insurance Co. purchased a new position in Monster Beverage during the 1st quarter valued at about $3,402,000. Mesirow Financial Investment Management Inc. purchased a new position in Monster Beverage during the 1st quarter valued at about $351,000. Finally, TRUE Private Wealth Advisors lifted its position in Monster Beverage by 4.9% during the 1st quarter. TRUE Private Wealth Advisors now owns 6,956 shares of the company’s stock valued at $412,000 after acquiring an additional 323 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.