Monster Beverage (NASDAQ:MNST) Stock Price Expected to Rise, Citigroup Analyst Says

Monster Beverage (NASDAQ:MNST) had its price target hoisted by Citigroup from $64.00 to $70.00 in a research report report published on Monday morning, MarketBeat Ratings reports. Citigroup currently has a buy rating on the stock.

A number of other research firms have also weighed in on MNST. Needham & Company LLC reissued a “hold” rating on shares of Monster Beverage in a research report on Friday, February 28th. BNP Paribas cut their price objective on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company raised their target price on Monster Beverage from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Monster Beverage in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Monster Beverage from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Hold” and a consensus target price of $57.06.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $57.95 on Monday. The business’s 50-day simple moving average is $55.10 and its 200-day simple moving average is $53.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage has a 52 week low of $43.32 and a 52 week high of $60.34. The firm has a market cap of $56.39 billion, a price-to-earnings ratio of 37.15, a P/E/G ratio of 2.28 and a beta of 0.64.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. As a group, equities research analysts expect that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the sale, the chief financial officer now owns 72,273 shares in the company, valued at approximately $3,994,528.71. The trade was a 12.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emelie Tirre sold 91,316 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the sale, the insider now directly owns 76,201 shares in the company, valued at approximately $4,220,011.38. The trade was a 54.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,316 shares of company stock worth $11,484,440. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Monster Beverage during the first quarter worth approximately $142,000. Wealth Enhancement Advisory Services LLC increased its holdings in Monster Beverage by 28.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company’s stock valued at $2,136,000 after purchasing an additional 8,155 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in Monster Beverage by 1.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 39,872 shares of the company’s stock valued at $2,333,000 after purchasing an additional 483 shares during the last quarter. CVA Family Office LLC boosted its stake in Monster Beverage by 28.6% in the first quarter. CVA Family Office LLC now owns 1,519 shares of the company’s stock worth $89,000 after purchasing an additional 338 shares in the last quarter. Finally, Marshall Financial Group LLC grew its holdings in shares of Monster Beverage by 2.9% during the first quarter. Marshall Financial Group LLC now owns 37,635 shares of the company’s stock worth $2,202,000 after purchasing an additional 1,058 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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.