Monster Beverage (NASDAQ:MNST) Given New $63.00 Price Target at UBS Group

Monster Beverage (NASDAQ:MNST) had its price objective lifted by UBS Group from $62.00 to $63.00 in a research report released on Friday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Monster Beverage from $53.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Monster Beverage from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Truist Financial boosted their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group raised their price objective on Monster Beverage from $68.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Hold” and an average price target of $60.17.

Monster Beverage Stock Performance

Shares of MNST opened at $61.14 on Friday. The firm has a market cap of $59.62 billion, a P/E ratio of 39.19, a PEG ratio of 2.28 and a beta of 0.63. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm’s 50 day moving average price is $57.88 and its two-hundred day moving average price is $53.95.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts forecast that Monster Beverage will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark J. Hall sold 48,000 shares of Monster Beverage stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $54.89, for a total transaction of $2,634,720.00. Following the completion of the sale, the director now directly owns 296,846 shares of the company’s stock, valued at approximately $16,293,876.94. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the completion of the sale, the insider now owns 76,201 shares of the company’s stock, valued at $4,220,011.38. This trade represents a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,316 shares of company stock valued at $11,484,440 in the last quarter. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sustainable Insight Capital Management LLC bought a new position in Monster Beverage during the fourth quarter worth about $1,214,000. Van ECK Associates Corp raised its position in shares of Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock valued at $8,101,000 after buying an additional 7,780 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $7,090,000. Diversified Trust Co bought a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $733,000. Finally, Alliance Wealth Advisors LLC UT acquired a new stake in Monster Beverage during the fourth quarter worth approximately $423,000. 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.