Monster Beverage Corporation (NASDAQ:MNST) Receives $83.76 Consensus PT from Brokerages

Shares of Monster Beverage Corporation (NASDAQ:MNST) have received an average rating of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $83.7619.

Several brokerages have issued reports on MNST. UBS Group boosted their target price on shares of Monster Beverage from $84.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Argus boosted their target price on shares of Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. BNP Paribas Exane raised shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 target price on the stock in a research note on Friday, January 16th. Wells Fargo & Company cut their target price on shares of Monster Beverage from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Finally, Evercore boosted their target price on shares of Monster Beverage from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd.

Monster Beverage Stock Up 2.5%

Shares of NASDAQ:MNST opened at $74.16 on Friday. The company’s fifty day moving average is $78.56 and its two-hundred day moving average is $74.62. Monster Beverage has a 12-month low of $54.73 and a 12-month high of $87.38. The company has a market cap of $72.52 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the business earned $0.39 EPS. The company’s revenue was up 17.6% on a year-over-year basis. Equities research analysts anticipate that Monster Beverage will post 1.62 earnings per share for the current year.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its position in Monster Beverage by 222.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock worth $3,385,000 after purchasing an additional 34,697 shares during the last quarter. Perigon Wealth Management LLC increased its position in Monster Beverage by 87.8% in the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock worth $2,163,000 after purchasing an additional 15,029 shares during the last quarter. ABN AMRO Bank N.V. acquired a new position in Monster Beverage in the 3rd quarter worth about $59,170,000. Inscription Capital LLC increased its position in Monster Beverage by 130.6% in the 3rd quarter. Inscription Capital LLC now owns 25,260 shares of the company’s stock worth $1,700,000 after purchasing an additional 14,305 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Monster Beverage by 2,436.3% in the 3rd quarter. UMB Bank n.a. now owns 57,371 shares of the company’s stock worth $3,862,000 after purchasing an additional 55,109 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.