Monster Beverage (MNST) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Monster Beverage (NASDAQ:MNST) from a hold rating to a buy rating in a research report report published on Friday. The firm currently has $75.00 target price on the stock.
According to Zacks, “Shares of Monster Beverage have gained 52.7% in the past year, outperforming the 17.9% rally of the industry. Also, earnings estimate for 2018 have moved north over the past 30 days. The company’s strong portfolio and focus on innovation should drive the stock’s performance in the upcoming quarters as well. The deal with Coca-Cola is expected to boost Monster Beverage’s presence in the international energy drinks market while its focus on innovation is likely to drive sales. However, softness in beverage industry, unfavorable currency translations and higher expenses in the United States raise concerns.”
Other analysts also recently issued research reports about the company. Jefferies Group restated a buy rating and set a $64.00 target price on shares of Monster Beverage in a research note on Thursday, November 9th. BMO Capital Markets restated a buy rating and set a $58.00 target price on shares of Monster Beverage in a research note on Thursday, November 2nd. Cowen restated a buy rating and set a $58.00 target price on shares of Monster Beverage in a research note on Friday, October 27th. Citigroup set a $60.00 target price on Monster Beverage and gave the company a buy rating in a research note on Wednesday, October 18th. Finally, Stifel Nicolaus restated a buy rating and set a $57.00 target price on shares of Monster Beverage in a research note on Saturday, September 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $63.82.
Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The firm had revenue of $909.50 million during the quarter, compared to the consensus estimate of $903.82 million. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. sell-side analysts anticipate that Monster Beverage will post 1.48 EPS for the current fiscal year.
In other news, CEO Rodney C. Sacks sold 697 shares of the stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $64.51, for a total value of $44,963.47. Following the completion of the transaction, the chief executive officer now directly owns 963,789 shares of the company’s stock, valued at approximately $62,174,028.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Rodney C. Sacks sold 189,861 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total value of $12,135,915.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,026 shares of company stock valued at $17,179,867. 9.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Skylands Capital LLC acquired a new position in shares of Monster Beverage in the 3rd quarter worth approximately $276,000. Douglas Lane & Associates LLC grew its position in Monster Beverage by 31.1% during the 3rd quarter. Douglas Lane & Associates LLC now owns 8,005 shares of the company’s stock worth $442,000 after acquiring an additional 1,900 shares during the last quarter. TT International grew its position in Monster Beverage by 6.2% during the 2nd quarter. TT International now owns 48,157 shares of the company’s stock worth $2,392,000 after acquiring an additional 2,818 shares during the last quarter. Castleark Management LLC grew its position in Monster Beverage by 63.1% during the 2nd quarter. Castleark Management LLC now owns 598,595 shares of the company’s stock worth $29,738,000 after acquiring an additional 231,489 shares during the last quarter. Finally, Rathbone Brothers plc grew its position in Monster Beverage by 21.2% during the 3rd quarter. Rathbone Brothers plc now owns 476,150 shares of the company’s stock worth $26,307,000 after acquiring an additional 83,150 shares during the last quarter. 65.69% of the stock is owned by institutional investors and hedge funds.
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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