Monster Beverage Corp (NASDAQ:MNST) Receives $68.94 Average Price Target from Analysts

Monster Beverage Corp (NASDAQ:MNST) has received a consensus rating of “Buy” from the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $68.94.

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price target on shares of Monster Beverage from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. UBS Group upped their price target on shares of Monster Beverage from $51.00 to $52.00 and gave the stock a “sell” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of Monster Beverage from $68.00 to $63.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Goldman Sachs Group reiterated a “buy” rating and issued a $78.00 price target (up from $70.00) on shares of Monster Beverage in a research report on Monday, June 1st. Finally, Guggenheim upped their target price on shares of Monster Beverage from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th.

In related news, Director Mark J. Hall sold 64,643 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $72.82, for a total transaction of $4,707,303.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Kelly sold 15,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $68.29, for a total transaction of $1,024,350.00. Following the sale, the executive vice president now directly owns 13,117 shares in the company, valued at approximately $895,759.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,108 shares of company stock worth $13,486,804. 10.60% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MNST. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Monster Beverage in the first quarter valued at $27,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at $30,000. Rockefeller Capital Management L.P. raised its stake in shares of Monster Beverage by 127.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 548 shares of the company’s stock valued at $35,000 after acquiring an additional 307 shares during the period. Balentine LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at $41,000. Finally, Verus Capital Partners LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at $64,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ MNST traded down $1.16 during trading hours on Friday, hitting $67.90. 2,044,998 shares of the company’s stock traded hands, compared to its average volume of 3,310,684. The business’s fifty day moving average price is $68.91 and its two-hundred day moving average price is $64.53. The firm has a market capitalization of $35.84 billion, a P/E ratio of 32.80, a P/E/G ratio of 4.17 and a beta of 1.04. Monster Beverage has a 52 week low of $50.06 and a 52 week high of $73.43.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $995.97 million. Monster Beverage had a net margin of 26.07% and a return on equity of 27.77%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. As a group, equities analysts predict that Monster Beverage will post 2.07 earnings per share for the current fiscal year.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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