Bank of America Issues Positive Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its target price boosted by Bank of America from $75.00 to $77.00 in a research report released on Friday morning, Marketbeat reports. Bank of America currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group restated a “buy” rating and set a $79.00 price target on shares of Monster Beverage in a report on Tuesday. Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the company an “overweight” rating in a report on Friday, August 8th. Roth Capital restated a “neutral” rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Piper Sandler increased their price objective on shares of Monster Beverage from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Monster Beverage in a research note on Thursday. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell 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 $69.41.

Monster Beverage Trading Up 5.2%

MNST traded up $3.42 during trading on Friday, hitting $69.73. 14,099,119 shares of the company traded hands, compared to its average volume of 5,954,324. The company has a market cap of $68.09 billion, a PE ratio of 43.31, a P/E/G ratio of 2.31 and a beta of 0.53. The stock’s 50-day simple moving average is $66.59 and its two-hundred day simple moving average is $63.44. Monster Beverage has a 1 year low of $45.70 and a 1 year high of $72.62.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities analysts expect that Monster Beverage will post 1.62 EPS for the current year.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MNST. Access Investment Management LLC purchased a new stake in shares of Monster Beverage in the second quarter worth approximately $25,000. Physician Wealth Advisors Inc. grew its position in Monster Beverage by 508.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after acquiring an additional 315 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Monster Beverage in the 3rd quarter valued at $27,000. Salomon & Ludwin LLC purchased a new stake in Monster Beverage in the second quarter worth $28,000. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares during the last quarter. Hedge funds and other 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.