Roth Mkm Cuts Monster Beverage (NASDAQ:MNST) Price Target to $50.00

Monster Beverage (NASDAQ:MNST) had its target price lowered by Roth Mkm from $56.00 to $50.00 in a research note published on Monday morning, MarketBeat reports. The firm currently has a neutral rating on the stock.

Several other research firms also recently commented on MNST. Piper Sandler lowered their price objective 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. Stifel Nicolaus lowered their price target on Monster Beverage from $63.00 to $57.00 and set a buy rating for the company in a research report on Monday, June 17th. JPMorgan Chase & Co. cut their price objective on Monster Beverage from $56.00 to $50.00 and set a neutral rating on the stock in a report on Thursday, August 8th. BNP Paribas initiated coverage on Monster Beverage in a research note on Monday, June 24th. They issued an underperform rating and a $48.00 price objective for the company. Finally, Evercore ISI cut their price target on shares of Monster Beverage from $65.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $55.85.

Monster Beverage Stock Performance

NASDAQ:MNST traded down $0.53 during mid-day trading on Monday, hitting $46.46. 563,988 shares of the company’s stock traded hands, compared to its average volume of 7,391,533. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a market capitalization of $48.40 billion, a P/E ratio of 29.55, a P/E/G ratio of 2.09 and a beta of 0.76. The company has a fifty day moving average of $49.68 and a 200 day moving average of $53.59.

Monster Beverage (NASDAQ:MNST) last released its earnings results 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 during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. On average, research analysts expect that Monster Beverage will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Monster Beverage

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

Institutional Trading of Monster Beverage

A number of hedge funds and other institutional investors have recently modified their holdings of MNST. Edmond DE Rothschild Holding S.A. grew its stake in shares of Monster Beverage by 9.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after buying an additional 189 shares during the period. Journey Advisory Group LLC grew its position in Monster Beverage by 4.1% in the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after acquiring an additional 196 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in Monster Beverage by 5.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after acquiring an additional 209 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after purchasing an additional 211 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of Monster Beverage by 1.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after purchasing an additional 226 shares during the last quarter. 72.36% of the stock is 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.