Monster Beverage (NASDAQ:MNST) Price Target Cut to $60.00 by Analysts at Morgan Stanley

Monster Beverage (NASDAQ:MNSTFree Report) had its price objective cut by Morgan Stanley from $65.00 to $60.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Truist Financial downgraded shares of Monster Beverage from a buy rating to a sell rating and reduced their target price for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. 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 research report on Monday, April 29th. BMO Capital Markets reduced their target price on shares of Monster Beverage from $58.00 to $56.00 and set a market perform rating on the stock in a research report on Friday, May 3rd. Roth Mkm dropped their price target on shares of Monster Beverage from $59.00 to $56.00 and set a neutral rating on the stock in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. cut shares of Monster Beverage from an overweight rating to a neutral rating and dropped their price target for the stock from $66.00 to $59.00 in a research note on Thursday, April 25th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $60.79.

View Our Latest Research Report on Monster Beverage

Monster Beverage Trading Up 2.3 %

Shares of Monster Beverage stock opened at $49.13 on Friday. The company’s fifty day simple moving average is $53.14 and its two-hundred day simple moving average is $55.63. The company has a market cap of $51.18 billion, a P/E ratio of 30.90, a PEG ratio of 1.81 and a beta of 0.76. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNSTGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. Analysts predict that Monster Beverage will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark J. Hall sold 250,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the sale, the director now directly owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,221 shares of company stock valued at $16,070,374. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monster Beverage

Institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in shares of Monster Beverage during the 1st quarter valued at approximately $26,000. ICA Group Wealth Management LLC bought a new position in shares of Monster Beverage during the 4th quarter valued at approximately $27,000. Tortoise Investment Management LLC boosted its position in shares of Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares during the last quarter. Headinvest LLC bought a new position in shares of Monster Beverage during the 3rd quarter valued at approximately $28,000. Finally, Crewe Advisors LLC bought a new position in shares of Monster Beverage during the 1st quarter valued at approximately $37,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Company Profile

(Get Free Report)

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.

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