TD Cowen Cuts Monster Beverage (NASDAQ:MNST) Price Target to $80.00

Monster Beverage (NASDAQ:MNST) had its price target cut by TD Cowen from $88.00 to $80.00 in a report released on Monday, Marketbeat reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a research note on Monday, December 29th. Argus upped their price target on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Zacks Research downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Citigroup upped their price target on Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.65.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $75.95 on Monday. The company has a market capitalization of $74.27 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 2.63 and a beta of 0.51. The business’s 50-day moving average is $77.19 and its 200-day moving average is $75.37. Monster Beverage has a 1 year low of $57.86 and a 1 year high of $87.38.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Analysts anticipate that Monster Beverage will post 2.29 EPS for the current year.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors have recently modified their holdings of MNST. Norges Bank bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $691,104,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Monster Beverage by 7,360.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock valued at $474,695,000 after acquiring an additional 6,108,420 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Monster Beverage by 133.4% in the fourth quarter. Wellington Management Group LLP now owns 8,499,546 shares of the company’s stock valued at $651,660,000 after acquiring an additional 4,858,109 shares in the last quarter. State Street Corp grew its holdings in Monster Beverage by 8.0% during the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock valued at $2,538,872,000 after purchasing an additional 2,789,273 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Monster Beverage by 3.2% during the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock valued at $4,542,320,000 after purchasing an additional 2,122,685 shares during the period. 72.36% of the stock is owned by institutional investors.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.