Monster Beverage (NASDAQ:MNST) PT Lowered to $60.00

Monster Beverage (NASDAQ:MNST) had its target price cut by UBS Group from $61.00 to $60.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on MNST. Royal Bank of Canada lifted their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Citigroup upped their target price on Monster Beverage from $63.00 to $69.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Truist Financial lowered Monster Beverage from a buy rating to a sell rating and cut their price target for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. BMO Capital Markets raised their target price on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a market perform rating in a research report on Wednesday, January 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Monster Beverage from $62.00 to $68.00 and gave the company a buy rating in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $61.32.

Monster Beverage Stock Up 3.0 %

Monster Beverage stock traded up $1.61 during midday trading on Friday, reaching $55.00. The company’s stock had a trading volume of 12,204,624 shares, compared to its average volume of 5,889,620. The company has a market cap of $57.30 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.19 and a beta of 0.74. The business has a 50-day simple moving average of $56.84 and a 200-day simple moving average of $55.78. Monster Beverage has a fifty-two week low of $47.13 and a fifty-two week high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 21.13% and a net margin of 22.83%. Monster Beverage’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, equities analysts forecast that Monster Beverage will post 1.8 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Peoples Bank KS purchased a new position in Monster Beverage in the 3rd quarter valued at about $26,000. ICA Group Wealth Management LLC acquired a new stake in Monster Beverage during the fourth quarter worth approximately $27,000. Headinvest LLC purchased a new stake in Monster Beverage in the 3rd quarter worth approximately $28,000. Tortoise Investment Management LLC raised its holdings in Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Monster Beverage during the 3rd quarter worth $31,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

About Monster Beverage

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.