Monster Beverage (NASDAQ:MNST – Get Rating) had its target price dropped by investment analysts at Wells Fargo & Company from $105.00 to $100.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 9.11% from the stock's current price.
A number of other research analysts have also recently weighed in on MNST. Morgan Stanley lifted their price objective on shares of Monster Beverage from $111.00 to $117.00 and gave the company an "overweight" rating in a report on Monday, June 6th. UBS Group lifted their price objective on shares of Monster Beverage from $94.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, August 5th. BMO Capital Markets boosted their price target on shares of Monster Beverage from $90.00 to $95.00 in a report on Wednesday, June 15th. Roth Capital began coverage on shares of Monster Beverage in a report on Tuesday, July 5th. They set a "neutral" rating and a $100.00 price target for the company. Finally, Royal Bank of Canada lowered their price target on shares of Monster Beverage from $100.00 to $98.00 and set an "outperform" rating for the company in a report on Friday, August 5th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.73.
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Monster Beverage Trading Up 2.9 %
NASDAQ:MNST opened at $91.65 on Monday. The company's 50-day moving average price is $90.57 and its 200-day moving average price is $88.96. The company has a market cap of $48.29 billion, a P/E ratio of 40.02, a P/E/G ratio of 3.44 and a beta of 0.91. Monster Beverage has a twelve month low of $71.78 and a twelve month high of $99.81.
Monster Beverage (NASDAQ:MNST – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.19). The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.61 billion. Monster Beverage had a return on equity of 18.51% and a net
margin of 20.40%. Monster Beverage's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. On average, analysts expect that Monster Beverage will post 2.29 earnings per share for the current year.
Insider Transactions at Monster Beverage
In related news, CFO Thomas J. Kelly sold 16,996 shares of the firm's stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $93.92, for a total value of $1,596,264.32. Following the completion of the sale, the chief financial officer now owns 25,777 shares in the company, valued at $2,420,975.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Thomas J. Kelly sold 16,032 shares of Monster Beverage stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $92.52, for a total transaction of $1,483,280.64. Following the completion of the sale, the chief financial officer now directly owns 19,433 shares in the company, valued at approximately $1,797,941.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Kelly sold 16,996 shares of the firm's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $93.92, for a total transaction of $1,596,264.32. Following the transaction, the chief financial officer now directly owns 25,777 shares of the company's stock, valued at $2,420,975.84. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.
Institutional Trading of Monster Beverage
A number of hedge funds have recently added to or reduced their stakes in the business. New England Professional Planning Group Inc. acquired a new position in shares of Monster Beverage in the 1st quarter valued at about $388,000. Janiczek Wealth Management LLC lifted its stake in shares of Monster Beverage by 311.4% in the 2nd quarter. Janiczek Wealth Management LLC now owns 288 shares of the company's stock valued at $29,000 after purchasing an additional 218 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Monster Beverage in the 1st quarter valued at about $27,000. Tcwp LLC acquired a new position in shares of Monster Beverage in the 1st quarter valued at about $31,000. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at about $39,000. 65.49% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Company Profile
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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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.
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