Monster Beverage (NASDAQ:MNST) Sets New 12-Month High After Analyst Upgrade

Monster Beverage Corporation (NASDAQ:MNST)’s stock price reached a new 52-week high during mid-day trading on Saturday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $72.62 and last traded at $69.73, with a volume of 14099119 shares trading hands. The stock had previously closed at $66.31.

Other analysts also recently issued reports about the company. Evercore ISI raised their price target on Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday. Roth Capital reissued a “neutral” rating and issued a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Citigroup reaffirmed a “buy” rating and set a $79.00 price target (up from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday. Finally, Piper Sandler increased their price objective on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.41.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director owned 51,191 shares in the company, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monster Beverage

A number of hedge funds have recently added to or reduced their stakes in MNST. Alps Advisors Inc. purchased a new stake in shares of Monster Beverage in the first quarter valued at approximately $374,000. Fidelis Capital Partners LLC increased its holdings in Monster Beverage by 4.5% during the 1st quarter. Fidelis Capital Partners LLC now owns 6,914 shares of the company’s stock worth $406,000 after purchasing an additional 300 shares during the period. Ballentine Partners LLC raised its position in Monster Beverage by 18.9% during the 1st quarter. Ballentine Partners LLC now owns 5,596 shares of the company’s stock valued at $327,000 after purchasing an additional 891 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Monster Beverage by 2.3% in the 1st quarter. Arizona State Retirement System now owns 213,939 shares of the company’s stock worth $12,520,000 after buying an additional 4,788 shares during the period. Finally, Dock Street Asset Management Inc. lifted its holdings in shares of Monster Beverage by 202.7% in the 1st quarter. Dock Street Asset Management Inc. now owns 11,744 shares of the company’s stock worth $687,000 after buying an additional 7,864 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Trading Up 5.2%

The firm has a market cap of $68.09 billion, a P/E ratio of 43.31, a P/E/G ratio of 2.31 and a beta of 0.53. The business has a 50-day moving average price of $66.59 and a 200-day moving average price of $63.50.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

About Monster Beverage

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.