Piper Sandler Lowers Monster Beverage (NASDAQ:MNST) Price Target to $46.00

Monster Beverage (NASDAQ:MNST) had its target price lowered by investment analysts at Piper Sandler from $59.00 to $46.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential downside of 0.13% from the stock’s current price.

Several other equities analysts also recently commented on MNST. TD Cowen cut their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. dropped their price target on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Truist Financial downgraded Monster Beverage from a “buy” rating to a “sell” rating and dropped their price target for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. Stifel Nicolaus dropped their price target on Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Monster Beverage currently has an average rating of “Hold” and an average target price of $56.19.

Monster Beverage Trading Up 2.3 %

NASDAQ:MNST traded up $1.05 during midday trading on Thursday, hitting $46.06. 14,618,892 shares of the company traded hands, compared to its average volume of 7,446,106. The firm’s fifty day moving average is $50.14 and its 200-day moving average is $53.84. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $61.22. The firm has a market capitalization of $47.98 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.09 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. On average, research analysts expect that Monster Beverage will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 15,077 shares of the firm’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 completion of the transaction, the director now directly owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the sale, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares in the company, valued at $3,534,458.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 307,221 shares of company stock worth $16,070,374. 7.80% of the stock is owned by insiders.

Institutional Trading of Monster Beverage

A number of institutional investors have recently made changes to their positions in MNST. LRI Investments LLC acquired a new stake in shares of Monster Beverage in the first quarter worth approximately $26,000. Stephens Consulting LLC acquired a new stake in shares of Monster Beverage in the second quarter worth approximately $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of Monster Beverage in the fourth quarter worth approximately $27,000. Tortoise Investment Management LLC boosted its stake in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new position in Monster Beverage during the second quarter worth approximately $30,000. 72.36% of the stock is owned by institutional investors and hedge funds.

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.