UBS Group Trims Monster Beverage (NASDAQ:MNST) Target Price to $60.00

Monster Beverage (NASDAQ:MNST) had its target price reduced by UBS Group from $61.00 to $60.00 in a research note published on Friday, MarketBeat reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Piper Sandler increased their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a neutral rating in a research note on Friday. Truist Financial cut shares of Monster Beverage from a buy rating to a sell rating and reduced their price target for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. Stifel Nicolaus dropped their price objective on shares of Monster Beverage from $65.00 to $63.00 and set a buy rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. downgraded Monster Beverage from an overweight rating to a neutral rating and decreased their target price for the stock from $66.00 to $59.00 in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $64.00 to $63.00 and set a buy rating on the stock in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $61.32.

Monster Beverage Price Performance

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

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

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction on Monday, March 4th. The stock was 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Several large investors have recently made changes to their positions in the business. Peoples Bank KS bought a new position in shares of Monster Beverage in the third quarter valued at $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of Monster Beverage during the fourth quarter worth $27,000. Headinvest LLC purchased a new stake in shares of Monster Beverage during the third quarter valued at $28,000. Tortoise Investment Management LLC boosted its position in shares of Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Monster Beverage in the 3rd quarter worth about $31,000. Institutional investors 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.