Monster Beverage (NASDAQ:MNST) Price Target Cut to $56.00

Monster Beverage (NASDAQ:MNST) had its target price trimmed by BMO Capital Markets from $58.00 to $56.00 in a research report released on Friday morning, Marketbeat.com reports. The firm currently has a market perform rating on the stock.

A number of other brokerages have also recently commented on MNST. Truist Financial cut Monster Beverage from a buy rating to a sell rating and dropped their price target for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Monster Beverage from $64.00 to $63.00 and set a buy rating for the company in a research note on Monday, February 26th. Piper Sandler upped their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the company a neutral rating in a research note on Friday. Jefferies Financial Group lifted their price objective on shares of Monster Beverage from $66.00 to $69.00 and gave the company a buy rating in a research note on Thursday, February 29th. Finally, HSBC dropped their target price on Monster Beverage from $72.00 to $68.00 and set a buy rating on the stock in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $61.32.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $54.22 on Friday. The company has a market capitalization of $56.48 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74. The company’s 50-day moving average is $56.81 and its 200 day moving average is $55.89. Monster Beverage has a fifty-two week low of $47.13 and a fifty-two week high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, research analysts predict that Monster Beverage will post 1.79 earnings per share for the current year.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the sale, the director now owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a document filed with the SEC, which is available at this link. 9.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently modified their holdings of MNST. Peoples Bank KS bought a new position in Monster Beverage in the third quarter worth about $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Monster Beverage during the 4th quarter worth approximately $27,000. Headinvest LLC bought a new position in shares of Monster Beverage in the 3rd quarter worth approximately $28,000. Tortoise Investment Management LLC lifted its stake in shares of Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Monster Beverage during the third quarter valued at approximately $31,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

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.