BidaskClub Upgrades Monster Beverage (NASDAQ:MNST) to “Buy”
MNST has been the subject of a number of other research reports. Jefferies Financial Group increased their price target on Monster Beverage from $68.00 to $70.00 and gave the company a buy rating in a report on Friday, November 8th. They noted that the move was a valuation call. Credit Suisse Group reissued a buy rating and issued a $77.00 price target on shares of Monster Beverage in a report on Friday, January 10th. Royal Bank of Canada set a $75.00 price target on Monster Beverage and gave the company a buy rating in a report on Monday, September 30th. Deutsche Bank increased their price target on Monster Beverage from $72.00 to $75.00 and gave the company a buy rating in a report on Thursday, December 12th. Finally, Wells Fargo & Co reduced their price target on Monster Beverage from $59.00 to $58.00 and set a market perform rating for the company in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Monster Beverage currently has an average rating of Hold and an average target price of $66.44.
Shares of MNST opened at $66.82 on Friday. The company has a market capitalization of $36.19 billion, a P/E ratio of 33.58, a P/E/G ratio of 2.10 and a beta of 1.16. Monster Beverage has a one year low of $52.23 and a one year high of $67.62. The stock has a 50-day moving average price of $63.52 and a 200 day moving average price of $60.23.
In other Monster Beverage news, EVP Thomas J. Kelly sold 33,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $60.07, for a total transaction of $1,982,310.00. Following the transaction, the executive vice president now owns 58,249 shares of the company’s stock, valued at approximately $3,499,017.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Guy Carling sold 42,750 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.32, for a total value of $2,664,180.00. Following the sale, the insider now owns 35,785 shares in the company, valued at $2,230,121.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,250 shares of company stock worth $5,261,580. 10.20% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Monster Beverage by 0.6% during the 3rd quarter. State Street Corp now owns 17,755,020 shares of the company’s stock worth $1,030,856,000 after purchasing an additional 113,887 shares during the period. Nuveen Asset Management LLC increased its position in Monster Beverage by 7,920.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock valued at $580,817,000 after acquiring an additional 8,985,980 shares during the period. Maverick Capital Ltd. increased its position in Monster Beverage by 2,731.7% in the 3rd quarter. Maverick Capital Ltd. now owns 3,060,771 shares of the company’s stock valued at $177,708,000 after acquiring an additional 2,952,681 shares during the period. Worldquant Millennium Advisors LLC increased its position in Monster Beverage by 124.8% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,322,828 shares of the company’s stock valued at $84,436,000 after acquiring an additional 734,404 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Monster Beverage by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 922,307 shares of the company’s stock valued at $53,549,000 after acquiring an additional 18,913 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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