Monster Beverage (NASDAQ:MNST) PT Lowered to $63.00

Monster Beverage (NASDAQ:MNST) had its price target decreased by Stifel Nicolaus from $65.00 to $63.00 in a research note published on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

MNST has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft decreased their price target 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. BMO Capital Markets upped their target price on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a market perform rating in a report on Wednesday, January 17th. Citigroup lifted their price target on Monster Beverage from $63.00 to $69.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Jefferies Financial Group increased their price objective on Monster Beverage from $66.00 to $69.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada lifted their target price on Monster Beverage from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday, February 29th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $61.68.

Monster Beverage Trading Up 1.4 %

NASDAQ:MNST opened at $54.13 on Monday. The firm has a fifty day simple moving average of $56.95 and a two-hundred day simple moving average of $55.72. Monster Beverage has a 12 month low of $47.13 and a 12 month high of $61.22. The stock has a market capitalization of $56.33 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.18 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS. Equities analysts predict that Monster Beverage will post 1.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark J. Hall sold 659,000 shares of Monster Beverage 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 completion of the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is currently owned by insiders.

Institutional Trading of Monster Beverage

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Peoples Bank KS purchased a new stake in shares of Monster Beverage in the third quarter worth about $26,000. ICA Group Wealth Management LLC bought a new stake in Monster Beverage during the 4th quarter worth approximately $27,000. Headinvest LLC purchased a new stake in Monster Beverage in the 3rd quarter worth approximately $28,000. Tortoise Investment Management LLC boosted its holdings in 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 purchased a new position in shares of Monster Beverage during the 3rd quarter valued at $31,000. 72.36% of the stock is currently owned by institutional investors.

About Monster Beverage

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.