Monster Beverage (NASDAQ:MNST) Price Target Raised to $85.00

Monster Beverage (NASDAQ:MNST) had its price target increased by investment analysts at Evercore from $80.00 to $85.00 in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the stock. Evercore’s price objective would suggest a potential upside of 1.09% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Citigroup restated a “buy” rating and set a $90.00 price target (up previously from $87.00) on shares of Monster Beverage in a research note on Wednesday, January 14th. Stifel Nicolaus set a $82.00 price objective on shares of Monster Beverage and gave the company a “buy” rating in a research note on Friday, December 12th. Jefferies Financial Group restated a “buy” rating and set a $79.00 price objective on shares of Monster Beverage in a research report on Tuesday, November 4th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $73.00 target price (up previously from $53.00) on shares of Monster Beverage in a report on Wednesday, December 3rd. Finally, Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Saturday. Fourteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Monster Beverage Stock Up 0.4%

MNST stock traded up $0.32 during trading on Monday, hitting $84.08. The company had a trading volume of 833,837 shares, compared to its average volume of 6,019,403. The firm has a 50-day moving average price of $79.08 and a 200-day moving average price of $71.75. The firm has a market cap of $82.15 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.45. Monster Beverage has a 1-year low of $50.93 and a 1-year high of $83.98.

Insider Activity at Monster Beverage

In related news, Director Rodney C. Sacks sold 206,543 shares of Monster Beverage stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Emelie Tirre sold 30,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the sale, the insider owned 63,939 shares in the company, valued at approximately $4,687,368.09. The trade was a 31.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNST. Vinland Capital Management Gestora de Recursos LTDA. purchased a new position in shares of Monster Beverage during the 4th quarter worth $141,000. Compound Planning Inc. increased its stake in Monster Beverage by 15.8% in the fourth quarter. Compound Planning Inc. now owns 14,752 shares of the company’s stock valued at $1,131,000 after purchasing an additional 2,008 shares during the last quarter. Rare Wolf Capital LLC purchased a new position in Monster Beverage during the fourth quarter worth about $647,000. Corient Private Wealth LLC boosted its stake in Monster Beverage by 237.9% in the 4th quarter. Corient Private Wealth LLC now owns 1,314,307 shares of the company’s stock worth $100,768,000 after buying an additional 925,333 shares during the last quarter. Finally, Strive Financial Group LLC purchased a new stake in Monster Beverage in the 4th quarter valued at about $2,775,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.