Monster Beverage (NASDAQ:MNST) Price Target Cut to $56.00 by Analysts at BMO Capital Markets

Monster Beverage (NASDAQ:MNST) had its target price reduced by BMO Capital Markets from $58.00 to $56.00 in a research report sent to investors on Friday morning, MarketBeat reports. They currently have a market perform rating on the stock.

A number of other equities research analysts have also issued reports on the company. HSBC cut their price target on Monster Beverage from $72.00 to $68.00 and set a buy rating for the company in a research note on Wednesday, March 6th. Morgan Stanley cut their price objective on shares of Monster Beverage from $68.00 to $65.00 and set an overweight rating on the stock in a report on Friday. Royal Bank of Canada increased their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday, February 29th. Stifel Nicolaus lowered their price target on Monster Beverage from $65.00 to $63.00 and set a buy rating for the company in a report on Monday, April 29th. Finally, Piper Sandler upped their target price on Monster Beverage from $58.00 to $59.00 and gave the company a neutral rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $61.32.

Monster Beverage Price Performance

NASDAQ:MNST traded up $1.61 during mid-day trading on Friday, hitting $55.00. 12,204,624 shares of the company’s stock were exchanged, compared to its average volume of 5,889,620. The business has a fifty day moving average price of $56.84 and a 200 day moving average price of $55.78. Monster Beverage has a one year low of $47.13 and a one year high of $61.22. The company has a market cap of $57.30 billion, a PE ratio of 34.59, a P/E/G ratio of 2.19 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a return on equity of 21.13% and a net margin of 22.83%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. On average, equities analysts forecast that Monster Beverage will post 1.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Several hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its position in Monster Beverage by 34.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock worth $1,421,000 after purchasing an additional 6,946 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Monster Beverage by 225.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 84,276 shares of the company’s stock worth $4,462,000 after acquiring an additional 58,360 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Monster Beverage by 43.1% in the third quarter. Pinnacle Associates Ltd. now owns 6,639 shares of the company’s stock valued at $352,000 after buying an additional 2,000 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Monster Beverage by 17.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,071 shares of the company’s stock valued at $586,000 after acquiring an additional 1,613 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Monster Beverage in the third quarter worth about $244,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.