BidaskClub Upgrades Monster Beverage (NASDAQ:MNST) to “Buy”
Other equities analysts have also issued reports about the company. Credit Suisse Group restated a buy rating and set a $77.00 target price on shares of Monster Beverage in a report on Friday, January 10th. Guggenheim lowered Monster Beverage from a buy rating to a neutral rating and cut their target price for the company from $74.00 to $60.00 in a report on Wednesday, October 2nd. Cowen lowered Monster Beverage from an outperform rating to a market perform rating and cut their target price for the company from $69.00 to $65.00 in a report on Thursday, October 17th. Royal Bank of Canada set a $75.00 target price on Monster Beverage and gave the company a buy rating in a report on Monday, September 30th. Finally, Deutsche Bank raised their target price on Monster Beverage from $72.00 to $75.00 and gave the company a buy rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $66.44.
NASDAQ MNST opened at $66.82 on Friday. Monster Beverage has a fifty-two week low of $52.23 and a fifty-two week high of $67.62. The stock’s 50-day moving average is $63.52 and its two-hundred day moving average is $60.23. The firm has a market cap of $36.19 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 2.10 and a beta of 1.16.
In other news, insider Emelie Tirre sold 10,500 shares of Monster Beverage stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $58.58, for a total value of $615,090.00. Following the transaction, the insider now directly owns 63,101 shares in the company, valued at $3,696,456.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Guy Carling sold 42,750 shares of Monster Beverage stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.32, for a total value of $2,664,180.00. Following the completion of the transaction, the insider now owns 35,785 shares in the company, valued at $2,230,121.20. The disclosure for this sale can be found here. Insiders sold 86,250 shares of company stock worth $5,261,580 over the last quarter. 10.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. CENTRAL TRUST Co increased its stake in shares of Monster Beverage by 40.4% in the fourth quarter. CENTRAL TRUST Co now owns 660 shares of the company’s stock worth $42,000 after purchasing an additional 190 shares during the period. Wealthfront Advisers LLC grew its position in Monster Beverage by 10.0% during the fourth quarter. Wealthfront Advisers LLC now owns 7,654 shares of the company’s stock worth $486,000 after buying an additional 698 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Monster Beverage by 21.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 40,433 shares of the company’s stock worth $2,570,000 after buying an additional 7,243 shares in the last quarter. Coronation Fund Managers Ltd. grew its position in Monster Beverage by 94.7% during the fourth quarter. Coronation Fund Managers Ltd. now owns 226,505 shares of the company’s stock worth $14,394,000 after buying an additional 110,159 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Monster Beverage by 235.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,769 shares of the company’s stock worth $430,000 after buying an additional 4,752 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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