Monster Beverage Corporation (MNST) Downgraded by Citigroup Inc. to “Neutral”
Citigroup Inc. downgraded shares of Monster Beverage Corporation (NASDAQ:MNST) to a neutral rating in a research note issued to investors on Monday, The Fly reports. They currently have $51.00 price objective on the stock, down from their prior price objective of $56.00. The analysts noted that the move was a valuation call.
MNST has been the subject of a number of other reports. Susquehanna Bancshares Inc reiterated a hold rating and issued a $42.00 target price (down from $45.00) on shares of Monster Beverage Corporation in a report on Monday, August 7th. BMO Capital Markets reiterated a buy rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a report on Wednesday, September 6th. Credit Suisse Group reduced their target price on shares of Monster Beverage Corporation from $64.00 to $62.00 and set an outperform rating for the company in a report on Thursday, November 9th. Jefferies Group LLC boosted their target price on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a report on Saturday, September 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $58.74.
Monster Beverage Corporation (MNST) opened at $61.27 on Monday. The company has a market cap of $34,554.03, a PE ratio of 41.68, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91. Monster Beverage Corporation has a fifty-two week low of $41.02 and a fifty-two week high of $62.80.
Monster Beverage Corporation (NASDAQ:MNST) last announced its earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.40. The business had revenue of $909.50 million during the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage Corporation had a net margin of 23.92% and a return on equity of 23.45%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. equities analysts expect that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.
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In other news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the transaction, the director now owns 52,000 shares in the company, valued at $2,912,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Liberty Capital Management Inc. increased its holdings in shares of Monster Beverage Corporation by 2,028.0% during the third quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock valued at $120,000 after acquiring an additional 2,028 shares in the last quarter. Huntington National Bank increased its holdings in Monster Beverage Corporation by 42.2% in the 2nd quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after buying an additional 633 shares during the period. Commonwealth Bank of Australia increased its holdings in Monster Beverage Corporation by 11.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after buying an additional 232 shares during the period. Bessemer Group Inc. increased its holdings in Monster Beverage Corporation by 397.6% in the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after buying an additional 2,143 shares during the period. Finally, Sun Life Financial INC increased its holdings in Monster Beverage Corporation by 29,250.0% in the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after buying an additional 2,925 shares during the period. Hedge funds and other institutional investors own 64.89% 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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