Monster Beverage Corporation (NASDAQ:MNST) had its price objective upped by Citigroup Inc. from $60.00 to $66.00 in a report published on Friday morning. They currently have a buy rating on the stock.
Several other brokerages also recently weighed in on MNST. Jefferies Group LLC upped their target price on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, August 9th. Cowen and Company reaffirmed an outperform rating and set a $67.00 target price (up from $58.00) on shares of Monster Beverage Corporation in a research note on Thursday, November 9th. Credit Suisse Group downgraded shares of Monster Beverage Corporation to a hold rating in a research note on Friday, September 8th. Stifel Nicolaus reaffirmed a buy rating and set a $57.00 target price on shares of Monster Beverage Corporation in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Monster Beverage Corporation from a hold rating to a buy rating and set a $58.00 target price on the stock in a research note on Monday, July 17th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $58.68.
Monster Beverage Corporation (NASDAQ:MNST) traded up $1.04 during trading on Friday, hitting $62.20. 2,927,200 shares of the stock were exchanged, compared to its average volume of 2,213,518. The stock has a market cap of $34,492.00, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91. Monster Beverage Corporation has a twelve month low of $40.64 and a twelve month high of $62.42.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $909.50 million for the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage Corporation had a net margin of 23.92% and a return on equity of 23.45%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. analysts anticipate that Monster Beverage Corporation will post 1.48 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Citigroup Inc. Boosts Monster Beverage Corporation (MNST) Price Target to $66.00” was first reported by BBNS and is the property of of BBNS. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://baseballnewssource.com/markets/citigroup-inc-boosts-monster-beverage-corporation-mnst-price-target-to-66-00/1775777.html.
In other news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 9.40% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Saturna Capital CORP boosted its stake in Monster Beverage Corporation by 3.0% during the 3rd quarter. Saturna Capital CORP now owns 31,100 shares of the company’s stock worth $1,718,000 after purchasing an additional 900 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Monster Beverage Corporation by 76.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 310,585 shares of the company’s stock worth $17,160,000 after purchasing an additional 134,830 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Monster Beverage Corporation by 1.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,886 shares of the company’s stock worth $3,861,000 after purchasing an additional 1,177 shares during the period. Private Advisor Group LLC boosted its stake in Monster Beverage Corporation by 162.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,886 shares of the company’s stock worth $824,000 after purchasing an additional 9,213 shares during the period. Finally, BB&T Investment Services Inc. boosted its stake in Monster Beverage Corporation by 48.0% during the 3rd quarter. BB&T Investment Services Inc. now owns 18,729 shares of the company’s stock worth $1,028,000 after purchasing an additional 6,071 shares during the period. Hedge funds and other institutional investors own 65.82% of the company’s stock.
Monster Beverage Corporation Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
Receive News & Ratings for Monster Beverage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage Corporation and related companies with our FREE daily email newsletter.