TD Cowen Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Monster Beverage (NASDAQ:MNST) had its target price increased by research analysts at TD Cowen from $50.00 to $55.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential downside of 1.82% from the stock’s current price.

MNST has been the subject of several other research reports. Piper Sandler cut their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. UBS Group boosted their target price on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Roth Mkm decreased their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Stock Performance

Shares of MNST stock opened at $56.02 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The stock has a market cap of $54.87 billion, a PE ratio of 35.91, a P/E/G ratio of 2.47 and a beta of 0.74. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The stock has a fifty day moving average price of $51.86 and a 200 day moving average price of $51.00.

Hedge Funds Weigh In On Monster Beverage

Several large investors have recently made changes to their positions in MNST. Ninety One UK Ltd boosted its holdings in Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after buying an additional 3,620,436 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Monster Beverage by 1,148.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after acquiring an additional 2,388,798 shares in the last quarter. AMF Tjanstepension AB purchased a new position in Monster Beverage in the 2nd quarter worth about $81,757,000. TD Asset Management Inc raised its holdings in Monster Beverage by 41.1% during the 1st quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock worth $268,465,000 after buying an additional 1,318,890 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after buying an additional 1,059,042 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

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.