Monster Beverage (NASDAQ:MNST) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Monster Beverage Corporation (NASDAQ:MNST) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $43.25 and traded as high as $43.70. Monster Beverage shares last traded at $43.15, with a volume of 8,539,549 shares.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $48.50 target price (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. UBS Group boosted their price target on shares of Monster Beverage from $52.00 to $52.50 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Sanford C. Bernstein started coverage on shares of Monster Beverage in a report on Friday, June 12th. They issued a “market perform” rating and a $47.50 price objective for the company. Finally, Piper Sandler raised their price objective on shares of Monster Beverage from $47.00 to $50.50 and gave the company an “overweight” rating in a research note on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.33.

Monster Beverage Trading Up 0.6%

The firm has a market capitalization of $84.42 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 2.81 and a beta of 0.52. The stock has a fifty day moving average of $46.98 and a 200-day moving average of $43.27.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%.The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business posted $0.26 earnings per share. Monster Beverage’s revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Monster Beverage Corporation will post 1.11 earnings per share for the current fiscal year.

Monster Beverage announced that its board has initiated a stock buyback program on Friday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Monster Beverage

A number of hedge funds have recently bought and sold shares of MNST. Rockefeller Capital Management L.P. boosted its stake in Monster Beverage by 6.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company’s stock worth $15,173,000 after purchasing an additional 12,050 shares during the period. Oxbow Advisors LLC raised its stake in Monster Beverage by 70.7% during the 1st quarter. Oxbow Advisors LLC now owns 85,814 shares of the company’s stock valued at $6,218,000 after purchasing an additional 35,528 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Monster Beverage during the 4th quarter valued at $134,431,000. Norges Bank acquired a new stake in Monster Beverage during the 4th quarter valued at $691,104,000. Finally, MUFG Securities EMEA plc lifted its holdings in shares of Monster Beverage by 114.4% in the fourth quarter. MUFG Securities EMEA plc now owns 29,255 shares of the company’s stock valued at $2,243,000 after purchasing an additional 15,612 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation is a beverage company headquartered in Corona, California. It develops, markets and distributes energy drinks and other alternative beverages through a portfolio of brands that includes Monster Energy, Reign, NOS, Full Throttle, Burn and Bang Energy.

The company offers energy drinks in a variety of flavors and formulations, including products positioned for performance, fitness and everyday use. Monster also participates in the alcoholic beverage category through products marketed under the Monster Brewing Company name, including flavored malt beverages and beers.

Monster Beverage traces its roots to Hansen’s, a juice and natural beverage business founded in the 1930s.