BMO Capital Markets Trims Monster Beverage (NASDAQ:MNST) Target Price to $56.00

Monster Beverage (NASDAQ:MNST) had its price target decreased by BMO Capital Markets from $58.00 to $56.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other brokerages have also recently weighed in on MNST. Stifel Nicolaus reduced their target price on shares of Monster Beverage from $65.00 to $63.00 and set a buy rating on the stock in a report on Monday, April 29th. Royal Bank of Canada lifted their price objective on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. UBS Group dropped their target price on Monster Beverage from $61.00 to $60.00 and set a neutral rating on the stock in a report on Friday. Jefferies Financial Group raised their price target on Monster Beverage from $66.00 to $69.00 and gave the company a buy rating in a research note on Thursday, February 29th. Finally, Piper Sandler upped their price objective on Monster Beverage from $58.00 to $59.00 and gave the stock a neutral rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $61.32.

Monster Beverage Stock Down 1.4 %

NASDAQ:MNST traded down $0.78 on Friday, reaching $54.22. 10,018,493 shares of the company’s stock were exchanged, compared to its average volume of 5,542,921. The business has a fifty day moving average of $56.84 and a 200-day moving average of $55.86. 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 $56.48 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. Monster Beverage’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. As a group, equities analysts anticipate that Monster Beverage will post 1.79 earnings per share for the current year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Monster Beverage

Several hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Monster Beverage in the fourth quarter worth $517,035,000. Wellington Management Group LLP grew its stake in shares of Monster Beverage by 20.3% during the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after purchasing an additional 3,296,466 shares during the period. Capital Research Global Investors increased its holdings in shares of Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after purchasing an additional 3,026,657 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Monster Beverage by 143.8% in the 4th quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock valued at $184,921,000 after purchasing an additional 1,893,064 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Monster Beverage by 61.5% in the third quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company’s stock valued at $181,713,000 after purchasing an additional 1,307,482 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

About Monster Beverage

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.