Monster Beverage (NASDAQ:MNST) Price Target Cut to $63.00 by Analysts at Stifel Nicolaus

Monster Beverage (NASDAQ:MNST) had its target price cut by Stifel Nicolaus from $65.00 to $63.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on MNST. Truist Financial cut Monster Beverage from a buy rating to a sell rating and decreased their price objective for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut Monster Beverage from an overweight rating to a neutral rating and lowered their price target for the company from $66.00 to $59.00 in a research note on Thursday, April 25th. BMO Capital Markets lifted their price objective on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a market perform rating in a research note on Wednesday, January 17th. Morgan Stanley upped their target price on shares of Monster Beverage from $63.00 to $68.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Finally, Redburn Atlantic began coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a buy rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $61.68.

Monster Beverage Trading Up 0.2 %

Shares of NASDAQ MNST opened at $53.54 on Monday. Monster Beverage has a 1 year low of $47.13 and a 1 year high of $61.22. The firm’s 50-day moving average is $56.88 and its 200-day moving average is $55.75. The firm has a market capitalization of $55.77 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities research analysts anticipate that Monster Beverage will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now directly owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MNST. DAVENPORT & Co LLC boosted its stake in shares of Monster Beverage by 14.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 5,945 shares of the company’s stock worth $315,000 after buying an additional 729 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Monster Beverage by 50.5% during the third quarter. Valeo Financial Advisors LLC now owns 9,914 shares of the company’s stock valued at $525,000 after purchasing an additional 3,328 shares during the last quarter. PDS Planning Inc grew its stake in Monster Beverage by 5.5% in the third quarter. PDS Planning Inc now owns 4,234 shares of the company’s stock valued at $224,000 after purchasing an additional 220 shares in the last quarter. Vicus Capital bought a new position in Monster Beverage in the third quarter valued at approximately $235,000. Finally, SVB Wealth LLC increased its position in shares of Monster Beverage by 522.6% during the 3rd quarter. SVB Wealth LLC now owns 74,217 shares of the company’s stock worth $3,930,000 after purchasing an additional 62,296 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

About Monster Beverage

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.