Monster Beverage (MNST) Raised to “Buy” at SunTrust Banks

SunTrust Banks upgraded shares of Monster Beverage (NASDAQ:MNST) from a hold rating to a buy rating in a report released on Tuesday morning, Marketbeat reports. SunTrust Banks currently has $65.00 target price on the stock, up from their prior target price of $50.00. SunTrust Banks also issued estimates for Monster Beverage’s Q4 2018 earnings at $0.38 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.46 EPS, FY2019 earnings at $2.05 EPS and FY2020 earnings at $2.32 EPS.

Several other equities research analysts also recently weighed in on MNST. Zacks Investment Research downgraded shares of Monster Beverage from a buy rating to a hold rating in a research note on Monday, October 15th. JPMorgan Chase & Co. lowered their target price on shares of Monster Beverage from $64.00 to $58.00 and set a hold rating for the company in a research note on Wednesday, October 24th. Guggenheim assumed coverage on shares of Monster Beverage in a research note on Thursday, September 13th. They issued a buy rating and a $72.00 target price for the company. Goldman Sachs Group upgraded shares of Monster Beverage from a buy rating to a conviction-buy rating in a research note on Friday, November 9th. Finally, ValuEngine downgraded shares of Monster Beverage from a buy rating to a hold rating in a research note on Thursday, December 20th. Three analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Monster Beverage presently has an average rating of Buy and an average price target of $62.27.

Shares of NASDAQ MNST traded up $0.76 during midday trading on Tuesday, reaching $54.02. 263,425 shares of the company’s stock traded hands, compared to its average volume of 3,453,426. Monster Beverage has a one year low of $47.61 and a one year high of $70.21. The company has a market cap of $29.49 billion, a PE ratio of 36.99, a P/E/G ratio of 1.67 and a beta of 1.45.



Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.73 million. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts expect that Monster Beverage will post 1.77 earnings per share for the current year.

In other Monster Beverage news, EVP Thomas J. Kelly sold 14,661 shares of Monster Beverage stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $53.73, for a total value of $787,735.53. Following the completion of the transaction, the executive vice president now owns 24,312 shares of the company’s stock, valued at $1,306,283.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harold C. Taber, Jr. sold 9,000 shares of Monster Beverage stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $54.55, for a total transaction of $490,950.00. Following the completion of the transaction, the director now directly owns 77,238 shares of the company’s stock, valued at approximately $4,213,332.90. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNST. Cerebellum GP LLC purchased a new position in Monster Beverage in the fourth quarter valued at $70,000. Harvest Fund Management Co. Ltd increased its stake in shares of Monster Beverage by 287.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock worth $111,000 after purchasing an additional 1,409 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Monster Beverage by 17.5% during the third quarter. Cornerstone Advisors Inc. now owns 2,017 shares of the company’s stock worth $118,000 after purchasing an additional 300 shares in the last quarter. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Monster Beverage during the third quarter worth about $129,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Monster Beverage during the second quarter worth about $175,000. 64.15% of the stock is owned by institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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