Evercore Issues Pessimistic Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price target lowered by stock analysts at Evercore from $95.00 to $52.00 in a report released on Thursday. Evercore’s target price would indicate a potential upside of 19.16% from the stock’s previous close.

Several other research firms have also recently commented on MNST. BMO Capital Markets restated a “market perform” rating and set a $47.50 price target (up from $36.50) on shares of Monster Beverage in a report on Monday, July 20th. Sanford C. Bernstein began coverage on Monster Beverage in a report on Friday, June 12th. They set a “market perform” rating and a $47.50 price target for the company. Wells Fargo & Company dropped their price target on shares of Monster Beverage from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $74.07.

Monster Beverage Stock Down 0.0%

Shares of Monster Beverage stock opened at $43.64 on Thursday. The stock’s fifty day moving average is $44.92 and its 200-day moving average is $43.82. The firm has a market capitalization of $85.49 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 2.85 and a beta of 0.49. Monster Beverage has a 12-month low of $32.94 and a 12-month high of $50.17.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. Analysts expect that Monster Beverage will post 1.11 EPS for the current year.

Institutional Investors Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its stake in Monster Beverage by 6.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company’s stock worth $15,173,000 after acquiring an additional 12,050 shares in the last quarter. Oxbow Advisors LLC raised its position in Monster Beverage by 70.7% during the 1st quarter. Oxbow Advisors LLC now owns 85,814 shares of the company’s stock valued at $6,218,000 after purchasing an additional 35,528 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Monster Beverage by 2,304.9% in the 1st quarter. Whittier Trust Co. now owns 231,852 shares of the company’s stock worth $17,194,000 after buying an additional 222,211 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Monster Beverage by 16.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,176,347 shares of the company’s stock worth $473,541,000 after buying an additional 861,215 shares during the period. Finally, Swedbank AB increased its stake in shares of Monster Beverage by 19.6% during the first quarter. Swedbank AB now owns 472,529 shares of the company’s stock valued at $34,239,000 after buying an additional 77,485 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Company Profile

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company’s portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.