Monster Beverage (NASDAQ:MNST) Price Target Lowered to $56.00 at Roth Mkm

Monster Beverage (NASDAQ:MNST) had its price target decreased by Roth Mkm from $59.00 to $56.00 in a research note published on Wednesday morning, Benzinga reports. Roth Mkm currently has a neutral rating on the stock.

MNST has been the subject of several other research reports. Jefferies Financial Group lifted their price target on shares of Monster Beverage from $66.00 to $69.00 and gave the company a buy rating in a research report on Thursday, February 29th. BMO Capital Markets reduced their price target on shares of Monster Beverage from $58.00 to $56.00 and set a market perform rating for the company in a research report on Friday, May 3rd. Royal Bank of Canada lifted their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday, February 29th. Redburn Atlantic started coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They issued a buy rating for the company. Finally, Morgan Stanley dropped their price objective on Monster Beverage from $68.00 to $65.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $61.11.

Monster Beverage Stock Down 1.4 %

Shares of MNST stock opened at $48.03 on Wednesday. The company has a market cap of $50.03 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 1.84 and a beta of 0.76. Monster Beverage has a 52 week low of $47.13 and a 52 week high of $61.22. The firm has a 50 day moving average of $53.27 and a 200-day moving average of $55.67.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the business earned $0.38 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts anticipate that Monster Beverage will post 1.77 earnings per share for the current year.

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now owns 1,875,558 shares in the company, valued at $99,404,574. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,221 shares of company stock worth $16,070,374. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MNST. LRI Investments LLC purchased a new position in Monster Beverage during the 1st quarter valued at about $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Monster Beverage during the fourth quarter worth about $27,000. Headinvest LLC purchased a new position in shares of Monster Beverage during the third quarter worth about $28,000. Tortoise Investment Management LLC grew its holdings in shares of Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 396 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in Monster Beverage in the first quarter worth approximately $37,000. Hedge funds and other institutional investors 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.