Susquehanna Bancshares reaffirmed their sell rating on shares of Monster Beverage (NASDAQ:MNST) in a research note issued to investors on Thursday morning. They currently have a $56.00 price objective on the stock.
A number of other brokerages have also issued reports on MNST. BMO Capital Markets reaffirmed a buy rating and set a $58.00 target price on shares of Monster Beverage in a research report on Thursday, November 2nd. Jefferies Group reaffirmed a buy rating and set a $64.00 target price on shares of Monster Beverage in a research report on Thursday, November 9th. Stifel Nicolaus reaffirmed a buy rating and set a $73.00 target price (up from $61.00) on shares of Monster Beverage in a research report on Tuesday. Cowen reaffirmed an outperform rating and set a $67.00 target price (up from $58.00) on shares of Monster Beverage in a research report on Thursday, November 9th. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $77.00 target price (up from $69.00) on shares of Monster Beverage in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $63.82.
Shares of Monster Beverage (MNST) traded up $0.39 during midday trading on Thursday, hitting $66.86. The stock had a trading volume of 2,497,713 shares, compared to its average volume of 2,420,485. Monster Beverage has a twelve month low of $41.02 and a twelve month high of $67.34. The stock has a market capitalization of $37,490.00, a price-to-earnings ratio of 48.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94.
Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.40. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The business had revenue of $909.50 million for the quarter, compared to analyst estimates of $903.82 million. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. equities research analysts predict that Monster Beverage will post 1.48 earnings per share for the current fiscal year.
In other Monster Beverage news, Chairman Rodney C. Sacks sold 62,386 shares of Monster Beverage stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $64.53, for a total value of $4,025,768.58. Following the completion of the transaction, the chairman now directly owns 949,806 shares in the company, valued at $61,290,981.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rodney C. Sacks sold 697 shares of Monster Beverage stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $64.51, for a total value of $44,963.47. Following the completion of the transaction, the chief executive officer now owns 963,789 shares of the company’s stock, valued at $62,174,028.39. The disclosure for this sale can be found here. Insiders sold 268,026 shares of company stock valued at $17,179,867 over the last quarter. Insiders own 9.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of MNST. Bank of New York Mellon Corp boosted its stake in Monster Beverage by 19.7% in the third quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock valued at $338,810,000 after acquiring an additional 1,008,607 shares during the period. Vanguard Group Inc. boosted its stake in Monster Beverage by 2.8% in the second quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock valued at $1,412,547,000 after acquiring an additional 771,913 shares during the period. Alyeska Investment Group L.P. boosted its stake in Monster Beverage by 163.6% in the third quarter. Alyeska Investment Group L.P. now owns 1,173,475 shares of the company’s stock valued at $64,834,000 after acquiring an additional 728,295 shares during the period. WINTON GROUP Ltd boosted its stake in Monster Beverage by 239.0% in the third quarter. WINTON GROUP Ltd now owns 614,794 shares of the company’s stock valued at $33,967,000 after acquiring an additional 433,465 shares during the period. Finally, Capital Research Global Investors acquired a new position in Monster Beverage in the second quarter valued at approximately $16,295,000. Institutional investors own 65.69% of the company’s stock.
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Monster Beverage Company Profile
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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