Monster Beverage (NASDAQ:MNST) PT Lowered to $60.00 at Jefferies Financial Group

Monster Beverage (NASDAQ:MNST) had its price objective decreased by Jefferies Financial Group from $61.00 to $60.00 in a research note published on Thursday morning, Marketbeat.com reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on MNST. Roth Mkm cut their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a neutral rating for the company in a research report on Wednesday, June 12th. Wells Fargo & Company cut their price target on Monster Beverage from $59.00 to $57.00 and set an overweight rating for the company in a report on Thursday. Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a neutral rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $66.00 to $63.00 and set a buy rating for the company in a research note on Friday, June 14th. Finally, TD Cowen decreased their price target on Monster Beverage from $60.00 to $55.00 and set a hold rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Monster Beverage currently has an average rating of Moderate Buy and a consensus price target of $56.15.

Monster Beverage Price Performance

NASDAQ:MNST traded up $1.05 during trading hours on Thursday, reaching $46.06. 14,618,892 shares of the company traded hands, compared to its average volume of 7,446,106. The firm’s 50-day moving average is $50.14 and its 200-day moving average is $53.83. The stock has a market cap 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 has a 1-year low of $43.32 and a 1-year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. As a group, research analysts predict that Monster Beverage will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The disclosure for this sale can be found here. In the last three months, insiders sold 307,221 shares of company stock valued at $16,070,374. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Monster Beverage

Large investors have recently modified their holdings of the business. Axxcess Wealth Management LLC boosted its holdings in Monster Beverage by 11.0% in the second quarter. Axxcess Wealth Management LLC now owns 15,746 shares of the company’s stock valued at $787,000 after purchasing an additional 1,558 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Monster Beverage during the 2nd quarter valued at approximately $1,115,000. Lmcg Investments LLC grew its position in shares of Monster Beverage by 53.8% during the second quarter. Lmcg Investments LLC now owns 160,107 shares of the company’s stock worth $7,997,000 after buying an additional 56,000 shares in the last quarter. Savoir Faire Capital Management L.P. increased its stake in shares of Monster Beverage by 417.2% in the second quarter. Savoir Faire Capital Management L.P. now owns 118,148 shares of the company’s stock worth $5,901,000 after buying an additional 95,303 shares during the last quarter. Finally, Montag & Caldwell LLC increased its stake in shares of Monster Beverage by 3.8% in the second quarter. Montag & Caldwell LLC now owns 316,565 shares of the company’s stock worth $15,812,000 after buying an additional 11,519 shares during the last quarter. 72.36% of the stock is currently 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.