Monster Beverage (NASDAQ:MNST) Stock Price Expected to Rise, TD Cowen Analyst Says

Monster Beverage (NASDAQ:MNST) had its price objective boosted by TD Cowen from $55.00 to $60.00 in a report released on Friday, MarketBeat Ratings reports. They currently have a hold rating on the stock.

A number of other brokerages have also commented on MNST. Truist Financial upped their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, April 23rd. UBS Group raised their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company upped their target price on Monster Beverage from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Monster Beverage in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Monster Beverage currently has an average rating of “Hold” and an average target price of $60.17.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $61.14 on Friday. Monster Beverage has a 12 month low of $43.32 and a 12 month high of $61.83. The company has a market cap of $59.62 billion, a P/E ratio of 39.19, a P/E/G ratio of 2.28 and a beta of 0.63. The business’s 50 day moving average is $57.88 and its two-hundred day moving average is $53.95. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. Monster Beverage’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that Monster Beverage will post 1.62 EPS for the current year.

Insider Activity at Monster Beverage

In related news, insider Emelie Tirre sold 91,316 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the transaction, the insider now owns 76,201 shares in the company, valued at $4,220,011.38. This represents a 54.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the sale, the chief financial officer now owns 72,273 shares of the company’s stock, valued at $3,994,528.71. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,316 shares of company stock valued at $11,484,440 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

A number of large investors have recently modified their holdings of MNST. Headlands Technologies LLC increased its holdings in shares of Monster Beverage by 81.8% in the first quarter. Headlands Technologies LLC now owns 103,435 shares of the company’s stock valued at $6,053,000 after purchasing an additional 46,536 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in Monster Beverage by 85.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,008 shares of the company’s stock valued at $485,000 after buying an additional 3,689 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Monster Beverage by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,057,741 shares of the company’s stock valued at $237,459,000 after buying an additional 55,257 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Monster Beverage during the first quarter worth $2,273,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Monster Beverage during the first quarter valued at $205,000. 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.