Citigroup Inc. Boosts Monster Beverage Corporation (MNST) Price Target to $66.00

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.

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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.

Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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