Citigroup set a $70.00 target price on Monster Beverage (NASDAQ:MNST) in a report issued on Monday morning. The firm currently has a buy rating on the stock.
Several other equities research analysts have also recently weighed in on MNST. Zacks Investment Research cut shares of Monster Beverage from a buy rating to a hold rating in a research report on Monday, March 5th. BidaskClub cut shares of Monster Beverage from a buy rating to a hold rating in a research report on Wednesday, February 28th. Deutsche Bank decreased their price objective on shares of Monster Beverage from $66.00 to $63.00 and set a hold rating for the company in a research report on Thursday, March 1st. BMO Capital Markets decreased their price objective on shares of Monster Beverage from $71.00 to $68.00 and set an outperform rating for the company in a research report on Thursday, March 1st. Finally, Wells Fargo increased their price objective on shares of Monster Beverage from $54.00 to $60.00 and gave the stock a market perform rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $65.87.
MNST opened at $56.22 on Monday. Monster Beverage has a twelve month low of $44.35 and a twelve month high of $70.21. The firm has a market cap of $31,848.83, a PE ratio of 38.51, a PEG ratio of 1.71 and a beta of 1.26.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Monster Beverage had a return on equity of 22.54% and a net margin of 24.36%. The firm had revenue of $810.40 million for the quarter, compared to analyst estimates of $841.25 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. research analysts anticipate that Monster Beverage will post 1.78 EPS for the current year.
Monster Beverage declared that its Board of Directors has initiated a stock buyback program on Thursday, March 1st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Thomas J. Kelly sold 15,000 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $58.31, for a total transaction of $874,650.00. Following the transaction, the vice president now directly owns 9,651 shares of the company’s stock, valued at $562,749.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Norman Epstein sold 7,770 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $56.09, for a total transaction of $435,819.30. Following the transaction, the director now directly owns 14,280 shares in the company, valued at $800,965.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,770 shares of company stock worth $3,228,099. 9.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Sky Asset Management LLC bought a new position in Monster Beverage during the fourth quarter worth $123,000. Icon Wealth Partners LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at $166,000. Valeo Financial Advisors LLC bought a new position in shares of Monster Beverage in the third quarter valued at $169,000. Captrust Financial Advisors bought a new position in shares of Monster Beverage in the fourth quarter valued at $177,000. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at $215,000. 65.41% of the stock is currently owned by institutional investors and hedge funds.
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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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