Monster Beverage (NASDAQ:MNST) PT Lowered to $60.00

Monster Beverage (NASDAQ:MNST) had its target price decreased by research analysts at Citigroup from $69.00 to $60.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 19.33% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, June 17th. Roth Mkm cut their price objective on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, June 12th. Morgan Stanley lowered their target price on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Truist Financial downgraded Monster Beverage from a “buy” rating to a “sell” rating and cut their price target for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of Monster Beverage in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.70.

Monster Beverage Stock Up 0.9 %

MNST opened at $50.28 on Wednesday. The firm has a market capitalization of $52.38 billion, a P/E ratio of 31.62, a PEG ratio of 1.99 and a beta of 0.76. The stock has a fifty day moving average of $51.54 and a 200-day moving average of $54.93. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced 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 business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, analysts expect that Monster Beverage will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the sale, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was 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 owns 1,875,558 shares in the company, valued at $99,404,574. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 307,221 shares of company stock worth $16,070,374. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

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

Monster Beverage Company Profile

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.