Monster Beverage Corp. (MNST) Upgraded at Vetr Inc.
Vetr upgraded shares of Monster Beverage Corp. (NASDAQ:MNST) from a hold rating to a buy rating in a research note published on Thursday. The brokerage currently has $157.53 target price on the stock.
MNST has been the topic of several other reports. Stifel Nicolaus raised their price objective on Monster Beverage Corp. from $165.00 to $185.00 and gave the stock a buy rating in a research note on Friday, August 5th. Susquehanna restated a hold rating on shares of Monster Beverage Corp. in a research note on Wednesday, September 7th. Credit Agricole SA restated a buy rating and set a $185.00 price objective (up from $175.00) on shares of Monster Beverage Corp. in a research note on Friday, June 17th. Credit Suisse Group AG assumed coverage on Monster Beverage Corp. in a research note on Thursday, September 15th. They set an outperform rating and a $187.00 price objective on the stock. Finally, Goldman Sachs Group Inc. restated a conviction-buy rating on shares of Monster Beverage Corp. in a research note on Friday, July 15th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $166.37.
Shares of Monster Beverage Corp. (NASDAQ:MNST) opened at 147.44 on Thursday. Monster Beverage Corp. has a 52 week low of $113.08 and a 52 week high of $166.50. The firm has a market capitalization of $28.07 billion, a PE ratio of 46.02 and a beta of 0.65. The company has a 50-day moving average of $155.50 and a 200-day moving average of $148.01.
Monster Beverage Corp. (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by $0.04. Monster Beverage Corp. had a return on equity of 15.46% and a net margin of 22.73%. The firm had revenue of $945.80 million for the quarter, compared to the consensus estimate of $804.24 million. During the same quarter last year, the business earned $0.79 earnings per share. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities analysts forecast that Monster Beverage Corp. will post $3.90 earnings per share for the current fiscal year.
In related news, VP Thomas J. Kelly sold 10,000 shares of Monster Beverage Corp. stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the sale, the vice president now directly owns 5,717 shares in the company, valued at $912,776.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 9.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Commonwealth Bank of Australia boosted its stake in shares of Monster Beverage Corp. by 17.4% in the second quarter. Commonwealth Bank of Australia now owns 627 shares of the company’s stock worth $101,000 after buying an additional 93 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Monster Beverage Corp. during the first quarter worth $121,000. Meeder Asset Management Inc. boosted its stake in shares of Monster Beverage Corp. by 1,798.1% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the company’s stock worth $132,000 after buying an additional 935 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Monster Beverage Corp. during the second quarter worth $183,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Monster Beverage Corp. during the second quarter worth $203,000. Institutional investors and hedge funds own 67.45% of the company’s stock.
About Monster Beverage Corp.
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
To view Vetr’s full report, visit Vetr’s official website.
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