Monster Beverage (MNST) PT Lowered to $67.00
Monster Beverage (NASDAQ:MNST) had its price objective lowered by Morgan Stanley from $70.00 to $67.00 in a research note released on Friday morning. The firm currently has an overweight rating on the stock.
Several other research firms have also commented on MNST. BMO Capital Markets reiterated a buy rating and issued a $58.00 price target on shares of Monster Beverage in a research report on Thursday, November 2nd. Susquehanna Bancshares lowered shares of Monster Beverage from a neutral rating to a negative rating and set a $51.00 price target on the stock. in a research report on Monday, November 20th. Jefferies Group reiterated a buy rating and issued a $64.00 price target on shares of Monster Beverage in a research report on Thursday, November 9th. Stifel Nicolaus reiterated a buy rating and issued a $73.00 price target (up from $61.00) on shares of Monster Beverage in a research report on Tuesday, January 16th. Finally, Cowen reiterated an outperform rating and issued a $67.00 price target (up from $58.00) on shares of Monster Beverage in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $64.17.
Monster Beverage (NASDAQ:MNST) traded down $0.06 during mid-day trading on Friday, hitting $54.16. 6,640,000 shares of the stock traded hands, compared to its average volume of 2,810,000. The firm has a market capitalization of $30,710.00, a price-to-earnings ratio of 39.53, a PEG ratio of 1.60 and a beta of 1.14. Monster Beverage has a twelve month low of $44.35 and a twelve month high of $70.21.
Monster Beverage declared that its Board of Directors has authorized a share buyback plan on Thursday, March 1st that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Monster Beverage news, Chairman Rodney C. Sacks sold 189,861 shares of Monster Beverage stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $63.92, for a total value of $12,135,915.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Rodney C. Sacks sold 62,386 shares of Monster Beverage stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total transaction of $4,025,768.58. Following the completion of the transaction, the chairman now owns 949,806 shares in the company, valued at approximately $61,290,981.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,026 shares of company stock worth $17,179,867. 9.40% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of MNST. Blue Sky Asset Management LLC purchased a new stake in Monster Beverage during the 4th quarter worth $123,000. Icon Wealth Partners LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at about $166,000. Bessemer Group Inc. boosted its holdings in shares of Monster Beverage by 397.6% in the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after buying an additional 2,143 shares during the period. Captrust Financial Advisors acquired a new position in shares of Monster Beverage in the 4th quarter valued at about $177,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Monster Beverage in the 3rd quarter valued at about $169,000. 65.26% of the stock is currently owned by institutional investors and hedge funds.
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About Monster Beverage
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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