Monster Beverage Corporation (MNST) Receives “Buy” Rating from Stifel Nicolaus
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.
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.
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