Monster Beverage (NASDAQ:MNST) had its price objective upped by stock analysts at Macquarie from $65.00 to $73.00 in a research report issued to clients and investors on Thursday, December 21st, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price objective points to a potential upside of 14.47% from the company’s current price.
A number of other equities research analysts also recently commented on MNST. BidaskClub raised shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. BMO Capital Markets reissued a “buy” rating and set a $58.00 price objective on shares of Monster Beverage in a research report on Wednesday, September 6th. Credit Suisse Group reissued an “outperform” rating and set a $61.00 price objective on shares of Monster Beverage in a research report on Thursday, September 7th. Royal Bank of Canada reissued a “buy” rating and set a $61.00 price objective on shares of Monster Beverage in a research report on Friday, September 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $57.00 target price on shares of Monster Beverage in a research note on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.99.
Monster Beverage (MNST) opened at $63.77 on Thursday. Monster Beverage has a 1-year low of $41.02 and a 1-year high of $66.16. The stock has a market cap of $35,963.92, a P/E ratio of 43.38, a PEG ratio of 1.88 and a beta of 0.94.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $909.50 million during the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. analysts expect that Monster Beverage will post 1.48 EPS for the current fiscal year.
In other Monster Beverage news, Chairman Rodney C. Sacks sold 189,861 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $63.92, for a total value of $12,135,915.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rodney C. Sacks sold 697 shares of the company’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $44,963.47. Following the completion of the transaction, the chief executive officer now owns 963,789 shares in the company, valued at $62,174,028.39. The disclosure for this sale can be found here. Insiders have sold a total of 268,026 shares of company stock worth $17,179,867 over the last quarter. 9.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Liberty Capital Management Inc. lifted its position in Monster Beverage by 2,028.0% during the third quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock valued at $120,000 after acquiring an additional 2,028 shares during the last quarter. Commonwealth Bank of Australia lifted its position in Monster Beverage by 11.0% during the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after acquiring an additional 232 shares during the last quarter. Bessemer Group Inc. lifted its position in Monster Beverage by 397.6% during the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after acquiring an additional 2,143 shares during the last quarter. Sun Life Financial INC lifted its position in Monster Beverage by 29,250.0% during the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock valued at $146,000 after acquiring an additional 2,925 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Monster Beverage during the third quarter valued at approximately $169,000. 65.62% of the stock is owned by hedge funds and other institutional investors.
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About Monster Beverage
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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