Stifel Nicolaus reissued their buy rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a report published on Thursday. They currently have a $61.00 price objective on the stock, up from their prior price objective of $57.00.

Several other equities research analysts have also issued reports on MNST. Jefferies Group LLC lifted their price target on Monster Beverage Corporation from $63.00 to $65.00 and gave the company a buy rating in a report on Wednesday, August 9th. Cowen and Company reiterated an outperform rating and set a $67.00 price target (up from $58.00) on shares of Monster Beverage Corporation in a report on Thursday. Zacks Investment Research lowered Monster Beverage Corporation from a buy rating to a hold rating in a report on Thursday, August 10th. Credit Suisse Group set a $61.00 price target on Monster Beverage Corporation and gave the company an outperform rating in a report on Wednesday, August 9th. Finally, BMO Capital Markets reiterated a buy rating and set a $58.00 price target on shares of Monster Beverage Corporation in a report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $58.68.

Shares of Monster Beverage Corporation (NASDAQ:MNST) traded up $2.48 during trading on Thursday, hitting $61.16. The stock had a trading volume of 4,589,000 shares, compared to its average volume of 2,210,244. The firm has a market cap of $33,093.37, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.91. Monster Beverage Corporation has a fifty-two week low of $40.64 and a fifty-two week high of $61.33.

Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. sell-side analysts predict that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.

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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of Monster Beverage Corporation stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now directly owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Monster Beverage Corporation by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock worth $1,412,547,000 after buying an additional 771,913 shares during the period. BlackRock Inc. increased its position in Monster Beverage Corporation by 1.7% in the 2nd quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after buying an additional 376,666 shares during the period. Jennison Associates LLC increased its position in Monster Beverage Corporation by 0.6% in the 3rd quarter. Jennison Associates LLC now owns 12,053,475 shares of the company’s stock worth $665,955,000 after buying an additional 68,041 shares during the period. Alliancebernstein L.P. increased its position in Monster Beverage Corporation by 7.5% in the 2nd quarter. Alliancebernstein L.P. now owns 6,679,727 shares of the company’s stock worth $331,849,000 after buying an additional 463,345 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Monster Beverage Corporation by 19.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock worth $338,810,000 after buying an additional 1,008,607 shares during the period. 65.84% of the stock is currently owned by institutional investors.

Monster Beverage Corporation 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.

Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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