Monster Beverage Corporation’s (MNST) “Buy” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reaffirmed their buy rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research report released on Wednesday. BMO Capital Markets currently has a $58.00 price target on the stock.
A number of other research firms have also recently commented on MNST. Goldman Sachs Group, Inc. (The) increased their target price on shares of Monster Beverage Corporation from $54.00 to $57.00 and gave the stock a buy rating in a report on Monday, May 15th. Credit Suisse Group set a $61.00 target price on shares of Monster Beverage Corporation and gave the stock an outperform rating in a report on Wednesday, August 9th. BidaskClub raised shares of Monster Beverage Corporation from a hold rating to a buy rating in a report on Wednesday, July 19th. Stifel Nicolaus reissued a buy rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a report on Wednesday, August 9th. Finally, UBS AG set a $59.00 target price on shares of Monster Beverage Corporation and gave the stock a buy rating in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $56.28.
Monster Beverage Corporation (NASDAQ MNST) opened at 56.33 on Wednesday. The company has a market capitalization of $32.00 billion, a P/E ratio of 42.61 and a beta of 0.99. Monster Beverage Corporation has a one year low of $40.64 and a one year high of $57.25. The company’s 50-day moving average is $53.98 and its 200 day moving average is $49.37.
Monster Beverage Corporation (NASDAQ:MNST) last posted its earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $907.07 million during the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. Analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current year.
In related news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 9.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Monster Beverage Corporation in the 2nd quarter valued at approximately $11,992,000. Toronto Dominion Bank increased its position in Monster Beverage Corporation by 25.8% during the 2nd quarter. Toronto Dominion Bank now owns 136,529 shares of the company’s stock valued at $6,782,000 after purchasing an additional 27,994 shares during the period. WINTON GROUP Ltd increased its position in Monster Beverage Corporation by 1,476.5% during the 2nd quarter. WINTON GROUP Ltd now owns 181,329 shares of the company’s stock valued at $9,008,000 after purchasing an additional 169,827 shares during the period. Public Employees Retirement System of Ohio increased its position in Monster Beverage Corporation by 3.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 299,149 shares of the company’s stock valued at $14,862,000 after purchasing an additional 10,544 shares during the period. Finally, Covington Capital Management acquired a new stake in Monster Beverage Corporation during the 2nd quarter valued at approximately $206,000. Institutional investors and hedge funds own 65.88% of the company’s stock.
Monster Beverage Corporation Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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