Monster Beverage (NASDAQ:MNST) PT Lowered to $65.00 at Morgan Stanley

Monster Beverage (NASDAQ:MNST) had its price target decreased by Morgan Stanley from $68.00 to $65.00 in a report published on Friday, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on MNST. Redburn Atlantic assumed coverage on Monster Beverage in a research report on Wednesday, March 6th. They set a buy rating for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Monster Beverage from $64.00 to $63.00 and set a buy rating on the stock in a research note on Monday, February 26th. JPMorgan Chase & Co. downgraded shares of Monster Beverage from an overweight rating to a neutral rating and lowered their price target for the stock from $66.00 to $59.00 in a report on Thursday, April 25th. Piper Sandler boosted their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a neutral rating in a report on Friday. Finally, Jefferies Financial Group lifted their price target on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a buy rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of Moderate Buy and an average target price of $61.32.

Monster Beverage Stock Down 1.4 %

Shares of Monster Beverage stock opened at $54.22 on Friday. The firm’s 50-day moving average price is $56.81 and its two-hundred day moving average price is $55.89. The company has a market capitalization of $56.48 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.27 and a beta of 0.74. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage will post 1.79 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Monster Beverage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Peoples Bank KS bought a new stake in shares of Monster Beverage during the third quarter worth about $26,000. ICA Group Wealth Management LLC bought a new position in Monster Beverage in the 4th quarter valued at about $27,000. Headinvest LLC acquired a new position in Monster Beverage during the 3rd quarter valued at about $28,000. Tortoise Investment Management LLC increased its holdings in Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 396 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Monster Beverage in the third quarter worth approximately $31,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Company Profile

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.