Stifel Nicolaus reaffirmed their buy rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research note published on Thursday morning, Marketbeat reports. The brokerage currently has a $61.00 target price on the stock, up from their previous target price of $57.00.
A number of other equities analysts have also commented on the company. Cowen and Company reissued an outperform rating and set a $67.00 price target (up from $58.00) on shares of Monster Beverage Corporation in a research note on Thursday. Jefferies Group LLC reissued a buy rating and set a $64.00 price target on shares of Monster Beverage Corporation in a research note on Thursday. BMO Capital Markets reissued a buy rating and set a $58.00 price target on shares of Monster Beverage Corporation in a research note on Thursday, November 2nd. Citigroup Inc. set a $60.00 price target on Monster Beverage Corporation and gave the company a buy rating in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada reissued a buy rating and set a $61.00 price target on shares of Monster Beverage Corporation in a research note on Friday, September 22nd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Monster Beverage Corporation presently has a consensus rating of Buy and a consensus target price of $58.68.
Shares of Monster Beverage Corporation (MNST) traded up $2.48 during trading on Thursday, reaching $61.16. The company had a trading volume of 4,589,000 shares, compared to its average volume of 1,739,262. Monster Beverage Corporation has a 52 week low of $40.64 and a 52 week high of $61.33. The company has a market capitalization of $34,491.98, a price-to-earnings ratio of 41.61, a PEG ratio of 2.18 and a beta of 0.91.
Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. The company had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. research analysts anticipate that Monster Beverage Corporation will post 1.48 EPS for the current year.
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In other 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 sale, the director now directly owns 52,000 shares in the company, valued at $2,912,000. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 9.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its holdings in shares of Monster Beverage Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,349 shares of the company’s stock worth $514,000 after buying an additional 27 shares during the period. Accuvest Global Advisors raised its holdings in shares of Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock worth $510,000 after buying an additional 38 shares during the period. Wendell David Associates Inc. raised its holdings in shares of Monster Beverage Corporation by 0.9% in the second quarter. Wendell David Associates Inc. now owns 7,264 shares of the company’s stock worth $361,000 after buying an additional 64 shares during the period. IFP Advisors Inc raised its holdings in shares of Monster Beverage Corporation by 0.5% in the second quarter. IFP Advisors Inc now owns 12,691 shares of the company’s stock worth $630,000 after buying an additional 66 shares during the period. Finally, Advisor Partners LLC raised its holdings in shares of Monster Beverage Corporation by 1.1% in the second quarter. Advisor Partners LLC now owns 7,898 shares of the company’s stock worth $392,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 65.84% of the company’s stock.
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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