Truist Financial Downgrades Monster Beverage (NASDAQ:MNST) to Sell

Monster Beverage (NASDAQ:MNST) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “sell” rating in a report released on Thursday, Marketbeat Ratings reports. They currently have a $46.00 price objective on the stock, down from their previous price objective of $65.00. Truist Financial’s target price points to a potential downside of 13.81% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Citigroup increased their price target on Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. HSBC decreased their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Morgan Stanley upped their price target on shares of Monster Beverage from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. BMO Capital Markets raised their price objective on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, January 17th. Finally, Jefferies Financial Group boosted their target price on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.79.

Monster Beverage Stock Up 0.4 %

MNST opened at $53.37 on Thursday. The firm’s 50 day moving average is $56.97 and its 200-day moving average is $55.60. Monster Beverage has a 52-week low of $47.13 and a 52-week high of $61.22. The firm has a market capitalization of $55.54 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.22 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. Equities analysts expect that Monster Beverage will post 1.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction 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 owns 777,840 shares of the company’s stock, valued at $45,542,532. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monster Beverage

Large investors have recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its position in Monster Beverage by 8.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,210 shares of the company’s stock valued at $1,017,000 after acquiring an additional 1,482 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Monster Beverage by 112.2% during the third quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock valued at $10,339,000 after purchasing an additional 103,271 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Monster Beverage during the fourth quarter valued at about $7,340,000. Defender Capital LLC. lifted its holdings in Monster Beverage by 30.2% in the fourth quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock worth $21,378,000 after purchasing an additional 86,050 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in Monster Beverage by 9.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company’s stock valued at $590,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds 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.