Macquarie initiated coverage on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $65.00 price target on the stock.
MNST has been the subject of several other reports. Zacks Investment Research lowered Monster Beverage Corporation from a hold rating to a sell rating in a research note on Wednesday, July 5th. Susquehanna Bancshares Inc reiterated a hold rating and set a $42.00 price objective (down from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Cowen and Company restated an outperform rating and set a $58.00 target price on shares of Monster Beverage Corporation in a report on Thursday, June 22nd. BMO Capital Markets restated a buy rating and set a $58.00 target price on shares of Monster Beverage Corporation in a report on Wednesday, September 6th. Finally, Jefferies Group LLC increased their target price on Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $56.86.
Monster Beverage Corporation (NASDAQ MNST) opened at 56.18 on Thursday. Monster Beverage Corporation has a one year low of $40.64 and a one year high of $57.25. The firm has a market cap of $31.92 billion, a P/E ratio of 42.50 and a beta of 0.99. The stock’s 50 day moving average is $54.65 and its 200 day moving average is $49.93.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The company had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Monster Beverage Corporation will post $1.48 earnings per share for the current year.
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In related news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now owns 52,000 shares in the company, valued at $2,912,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.40% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Huntington National Bank boosted its holdings in Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock valued at $106,000 after acquiring an additional 633 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Monster Beverage Corporation by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after acquiring an additional 232 shares during the last quarter. Sun Life Financial INC boosted its holdings in Monster Beverage Corporation by 29,250.0% in the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock valued at $146,000 after acquiring an additional 2,925 shares during the last quarter. Assetmark Inc. boosted its holdings in Monster Beverage Corporation by 7.7% in the first quarter. Assetmark Inc. now owns 4,350 shares of the company’s stock valued at $201,000 after acquiring an additional 311 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC bought a new position in Monster Beverage Corporation in the second quarter valued at about $202,000. Institutional investors and hedge funds own 65.89% 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.
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