Monster Beverage (NASDAQ:MNST) Given New $59.00 Price Target at Piper Sandler

Monster Beverage (NASDAQ:MNST) had its target price hoisted by Piper Sandler from $58.00 to $59.00 in a research note issued to investors on Friday morning, Marketbeat reports. Piper Sandler currently has a neutral rating on the stock.

Several other analysts have also weighed in on MNST. JPMorgan Chase & Co. lowered Monster Beverage from an overweight rating to a neutral rating and decreased their price objective for the stock from $66.00 to $59.00 in a report on Thursday, April 25th. Morgan Stanley increased their price objective on shares of Monster Beverage from $63.00 to $68.00 and gave the company an overweight rating in a research note on Thursday, February 29th. UBS Group lifted their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the company a neutral rating in a research report on Thursday, February 29th. Redburn Atlantic initiated coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They issued a buy rating for the company. Finally, Jefferies Financial Group lifted their price objective on Monster Beverage from $66.00 to $69.00 and gave the company a buy rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $61.32.

Monster Beverage Stock Performance

Shares of MNST traded down $0.78 during mid-day trading on Friday, hitting $54.22. The company’s stock had a trading volume of 10,018,493 shares, compared to its average volume of 5,542,921. Monster Beverage has a one year low of $47.13 and a one year high of $61.22. The stock’s 50-day moving average is $56.84 and its two-hundred day moving average is $55.86. The firm has a market capitalization of $56.48 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts expect that Monster Beverage will post 1.79 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction dated 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 completion of the sale, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Delta Financial Advisors LLC grew its stake in shares of Monster Beverage by 0.9% during the third quarter. Delta Financial Advisors LLC now owns 19,168 shares of the company’s stock worth $1,015,000 after purchasing an additional 180 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Monster Beverage by 5.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,659 shares of the company’s stock valued at $211,000 after acquiring an additional 196 shares during the period. Catalyst Capital Advisors LLC increased its holdings in shares of Monster Beverage by 34.6% in the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock worth $41,000 after acquiring an additional 199 shares in the last quarter. PFG Investments LLC raised its position in shares of Monster Beverage by 2.6% during the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock worth $447,000 after purchasing an additional 199 shares during the period. Finally, Mainsail Financial Group LLC lifted its holdings in shares of Monster Beverage by 1.2% during the 3rd quarter. Mainsail Financial Group LLC now owns 18,169 shares of the company’s stock valued at $955,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

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.