Monster Beverage (NASDAQ:MNST) Given New $59.00 Price Target at Stifel Nicolaus

Monster Beverage (NASDAQ:MNST) had its price target upped by equities researchers at Stifel Nicolaus from $57.00 to $59.00 in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 6.88% from the stock’s previous close.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft cut their price objective on Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Citigroup lowered their target price on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets lowered their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company increased their price target on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Monster Beverage Trading Up 0.9 %

Shares of NASDAQ:MNST opened at $55.20 on Friday. The business’s 50-day moving average is $51.40 and its 200 day moving average is $51.00. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The firm has a market capitalization of $54.07 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. On average, research analysts predict that Monster Beverage will post 1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monster Beverage

Large investors have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. grew its holdings in Monster Beverage by 9.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after buying an additional 189 shares during the last quarter. Journey Advisory Group LLC increased its position in shares of Monster Beverage by 4.1% during the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after acquiring an additional 196 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Monster Beverage by 5.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after acquiring an additional 209 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Monster Beverage by 0.4% during the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after acquiring an additional 211 shares during the last quarter. Finally, Crewe Advisors LLC grew its stake in Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

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.