Monster Beverage Corporation (NASDAQ:MNST – Get Free Report) has been given an average rating of “Moderate Buy” by the twenty-two brokerages that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $89.35.
Several brokerages have recently commented on MNST. Morgan Stanley set a $103.00 target price on Monster Beverage and gave the stock an “overweight” rating in a research report on Monday, June 1st. Wells Fargo & Company lifted their price objective on shares of Monster Beverage from $87.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Piper Sandler boosted their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Rothschild & Co Redburn upgraded shares of Monster Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $76.00 to $90.00 in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group set a $100.00 price target on shares of Monster Beverage in a report on Wednesday, March 11th.
View Our Latest Stock Report on MNST
Insider Buying and Selling
Institutional Investors Weigh In On Monster Beverage
Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Monster Beverage during the fourth quarter valued at $691,104,000. Massachusetts Financial Services Co. MA lifted its position in Monster Beverage by 7,360.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock valued at $474,695,000 after purchasing an additional 6,108,420 shares during the last quarter. Wellington Management Group LLP lifted its position in Monster Beverage by 133.4% in the 4th quarter. Wellington Management Group LLP now owns 8,499,546 shares of the company’s stock valued at $651,660,000 after purchasing an additional 4,858,109 shares during the last quarter. State Street Corp boosted its stake in Monster Beverage by 8.0% during the 3rd quarter. State Street Corp now owns 37,719,091 shares of the company’s stock valued at $2,538,872,000 after purchasing an additional 2,789,273 shares during the period. Finally, Vanguard Group Inc. grew its position in Monster Beverage by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after purchasing an additional 2,122,685 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Price Performance
MNST opened at $94.70 on Thursday. Monster Beverage has a 12-month low of $58.09 and a 12-month high of $95.75. The stock has a market capitalization of $92.62 billion, a PE ratio of 45.75, a P/E/G ratio of 3.08 and a beta of 0.54. The firm’s fifty day moving average price is $85.13 and its 200 day moving average price is $80.32.
Monster Beverage (NASDAQ:MNST – Get Free Report) last released its earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s revenue was up 22.6% on a year-over-year basis. On average, equities research analysts forecast that Monster Beverage will post 2.31 earnings per share for the current fiscal year.
Monster Beverage announced that its board has authorized a stock repurchase program on Friday, May 15th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 0.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Monster Beverage Company Profile
Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.
Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.
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