BMO Capital Markets Increases Monster Beverage (MNST) Price Target to $71.00
Monster Beverage (NASDAQ:MNST) had its price target upped by equities research analysts at BMO Capital Markets to $71.00 in a research report issued on Friday. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 6.19% from the company’s previous close.
A number of other brokerages have also recently weighed in on MNST. Susquehanna Bancshares reiterated a “sell” rating and set a $56.00 price target on shares of Monster Beverage in a research report on Thursday. Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price (up from $61.00) on shares of Monster Beverage in a research report on Tuesday. Credit Suisse Group restated an “outperform” rating and issued a $77.00 target price (up from $69.00) on shares of Monster Beverage in a research report on Wednesday. Finally, Macquarie raised their target price on Monster Beverage from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Monster Beverage currently has an average rating of “Buy” and an average target price of $63.82.
Shares of Monster Beverage (MNST) traded up $0.39 during trading on Friday, hitting $66.86. The stock had a trading volume of 2,497,713 shares, compared to its average volume of 2,420,485. The firm has a market cap of $37,490.00, a PE ratio of 48.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94. Monster Beverage has a fifty-two week low of $41.02 and a fifty-two week high of $67.34.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $909.50 million for the quarter, compared to analysts’ expectations of $903.82 million. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. equities research analysts predict that Monster Beverage will post 1.48 earnings per share for the current fiscal year.
In other Monster Beverage news, Chairman Rodney C. Sacks sold 189,861 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total transaction of $12,135,915.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rodney C. Sacks sold 697 shares of the stock in a transaction on Friday, December 28th. The shares were sold at an average price of $64.51, for a total value of $44,963.47. Following the transaction, the chief executive officer now directly owns 963,789 shares of the company’s stock, valued at $62,174,028.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 268,026 shares of company stock valued at $17,179,867. 9.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue boosted its stake in Monster Beverage by 417.3% during the 4th quarter. State of Alaska Department of Revenue now owns 55,251 shares of the company’s stock valued at $3,494,000 after purchasing an additional 44,571 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Monster Beverage by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,404,795 shares of the company’s stock worth $88,910,000 after acquiring an additional 62,545 shares in the last quarter. Coastline Trust Co bought a new stake in shares of Monster Beverage during the 4th quarter worth $418,000. National Pension Service boosted its stake in shares of Monster Beverage by 1.9% during the 4th quarter. National Pension Service now owns 388,431 shares of the company’s stock worth $24,584,000 after acquiring an additional 7,262 shares in the last quarter. Finally, Central Bank & Trust Co. boosted its stake in shares of Monster Beverage by 16.5% during the 4th quarter. Central Bank & Trust Co. now owns 56,939 shares of the company’s stock worth $3,604,000 after acquiring an additional 8,062 shares in the last quarter. 65.69% of the stock is owned by hedge funds and other institutional investors.
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Monster Beverage Company Profile
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.
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