Monster Beverage Corporation (MNST) Stock Rating Lowered by Citigroup Inc.
Monster Beverage Corporation (NASDAQ:MNST) was downgraded by research analysts at Citigroup Inc. to a “neutral” rating in a research note issued on Monday. They currently have a $51.00 price target on the stock, down from their prior price target of $56.00. Citigroup Inc.’s price target indicates a potential downside of 16.76% from the company’s current price. The analysts noted that the move was a valuation call.
Other research analysts have also issued reports about the company. Jefferies Group LLC lifted their target price on Monster Beverage Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. UBS AG lowered Monster Beverage Corporation to a “neutral” rating in a report on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a report on Saturday, September 23rd. Credit Suisse Group lowered Monster Beverage Corporation to a “hold” rating in a report on Friday, September 8th. Finally, Susquehanna Bancshares Inc set a $51.00 target price on Monster Beverage Corporation and gave the company a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.74.
Monster Beverage Corporation (NASDAQ:MNST) opened at $61.27 on Monday. Monster Beverage Corporation has a 52-week low of $41.02 and a 52-week high of $62.80. The company has a market capitalization of $34,492.00, a price-to-earnings ratio of 41.60, a PEG ratio of 2.18 and a beta of 0.91.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. The business had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. During the same period last year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. analysts forecast that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.
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In related news, Director Sydney Selati sold 10,000 shares of the business’s stock in a transaction dated 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 owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of MNST. 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 valued at $338,810,000 after acquiring an additional 1,008,607 shares during the period. Harbour Capital Advisors LLC boosted its holdings in Monster Beverage Corporation by 6,737.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 890,266 shares of the company’s stock valued at $17,920,000 after purchasing an additional 877,246 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 valued at $1,412,547,000 after purchasing an additional 771,913 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in Monster Beverage Corporation by 186.2% in the 2nd quarter. Nationwide Fund Advisors now owns 1,175,384 shares of the company’s stock valued at $58,393,000 after purchasing an additional 764,665 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in Monster Beverage Corporation by 163.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,173,475 shares of the company’s stock valued at $64,834,000 after purchasing an additional 728,295 shares in the last quarter. Hedge funds and other institutional investors own 64.89% of the company’s stock.
About Monster Beverage Corporation
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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