Monster Beverage (NASDAQ:MNST) Cut to Sell at Truist Financial

Truist Financial downgraded shares of Monster Beverage (NASDAQ:MNST) from a buy rating to a sell rating in a research note released on Thursday morning, Marketbeat.com reports. They currently have $46.00 target price on the stock, down from their previous target price of $65.00.

Several other research firms also recently commented on MNST. Jefferies Financial Group upped their price target on shares of Monster Beverage from $66.00 to $69.00 and gave the company a buy rating in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Monster Beverage from $64.00 to $63.00 and set a buy rating for the company in a research report on Monday, February 26th. The Goldman Sachs Group lifted their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the company a buy rating in a research report on Wednesday, January 17th. BMO Capital Markets raised their price objective on Monster Beverage from $57.00 to $58.00 and gave the company a market perform rating in a research note on Wednesday, January 17th. Finally, Citigroup lifted their target price on Monster Beverage from $63.00 to $69.00 and gave the stock a buy rating in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of Moderate Buy and an average price target of $61.79.

Monster Beverage Stock Up 0.4 %

Shares of MNST stock opened at $53.37 on Thursday. The company’s fifty day simple moving average is $56.97 and its 200-day simple moving average is $55.68. The firm has a market cap of $55.54 billion, a PE ratio of 34.43, a P/E/G ratio of 2.18 and a beta of 0.72. Monster Beverage has a 12 month low of $47.13 and a 12 month high of $61.22.

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

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction dated 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 $45,542,532. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MNST. Peoples Bank KS bought a new stake in Monster Beverage in the 3rd quarter worth approximately $26,000. ICA Group Wealth Management LLC purchased a new stake in Monster Beverage in the fourth quarter worth $27,000. Headinvest LLC purchased a new stake in Monster Beverage in the third quarter worth $28,000. Tortoise Investment Management LLC grew its stake in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Monster Beverage in the third quarter worth $31,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

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.