Monster Beverage (NASDAQ:MNST) Sets New 12-Month High – What’s Next?

Monster Beverage Corporation (NASDAQ:MNST)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $67.32 and last traded at $66.94, with a volume of 157036 shares trading hands. The stock had previously closed at $66.96.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MNST shares. Redburn Atlantic lowered Monster Beverage from a “strong-buy” rating to a “hold” rating and lowered their target price for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. UBS Group raised their target price on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Bank of America boosted their price objective on shares of Monster Beverage from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.19.

Monster Beverage Price Performance

The firm has a 50-day simple moving average of $62.87 and a 200 day simple moving average of $61.34. The firm has a market cap of $65.36 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 2.27 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. Monster Beverage’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monster Beverage

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC grew its position in Monster Beverage by 101.8% during the 2nd quarter. Corient Private Wealth LLC now owns 1,567,140 shares of the company’s stock valued at $98,166,000 after purchasing an additional 790,673 shares during the last quarter. Caldwell Trust Co purchased a new position in Monster Beverage in the 2nd quarter worth approximately $106,000. Valeo Financial Advisors LLC lifted its position in Monster Beverage by 9.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,192 shares of the company’s stock valued at $450,000 after acquiring an additional 629 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Monster Beverage by 28.6% during the 2nd quarter. Osaic Holdings Inc. now owns 195,874 shares of the company’s stock valued at $12,189,000 after purchasing an additional 43,552 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Monster Beverage in the 2nd quarter worth $160,000. 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.