Analysts Set Monster Beverage Corporation (NASDAQ:MNST) PT at $62.05

Shares of Monster Beverage Corporation (NASDAQ:MNST) have earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $62.05.

MNST has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of Monster Beverage from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, June 12th. Piper Sandler increased their target price on shares of Monster Beverage from $51.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Bank of America increased their target price on shares of Monster Beverage from $57.00 to $66.00 and gave the company a “buy” rating in a report on Friday, April 25th. Truist Financial increased their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the company a “sell” rating in a report on Wednesday, April 23rd. Finally, UBS Group increased their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, May 9th.

Monster Beverage Trading Down 0.8%

NASDAQ MNST opened at $62.57 on Thursday. The stock has a market capitalization of $61.02 billion, a P/E ratio of 41.16, a P/E/G ratio of 2.23 and a beta of 0.59. Monster Beverage has a 52-week low of $43.32 and a 52-week high of $64.45. The firm has a 50-day moving average price of $62.36 and a 200 day moving average price of $56.51. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts expect that Monster Beverage will post 1.62 EPS for the current year.

Insider Buying and Selling

In related news, insider Emelie Tirre sold 8,796 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the sale, the insider owned 89,501 shares in the company, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the sale, the chief financial officer owned 69,273 shares in the company, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monster Beverage

A number of hedge funds have recently made changes to their positions in MNST. Wayfinding Financial LLC acquired a new position in shares of Monster Beverage in the 1st quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Monster Beverage in the 4th quarter valued at $31,000. Coppell Advisory Solutions LLC boosted its holdings in shares of Monster Beverage by 259.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 495 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after purchasing an additional 196 shares during 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.