Monster Beverage (NASDAQ:MNST) Price Target Raised to $75.00 at UBS Group

Monster Beverage (NASDAQ:MNST) had its target price upped by research analysts at UBS Group from $72.00 to $75.00 in a report issued on Friday. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 5.80% from the stock’s previous close.

A number of other brokerages also recently issued reports on MNST. Stifel Nicolaus upped their price target on Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Wells Fargo & Company upped their target price on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler lifted their price target on Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America increased their price objective on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group restated a “buy” rating and issued a $79.00 price objective on shares of Monster Beverage in a research note on Tuesday. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.

Monster Beverage Stock Performance

MNST stock traded up $4.58 during trading on Friday, reaching $70.89. 4,626,372 shares of the company traded hands, compared to its average volume of 5,905,533. The business has a 50 day simple moving average of $66.44 and a 200 day simple moving average of $63.36. Monster Beverage has a 12 month low of $45.70 and a 12 month high of $72.62. The company has a market capitalization of $69.22 billion, a price-to-earnings ratio of 44.23, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, research analysts forecast that Monster Beverage will post 1.62 EPS for the current year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.

Institutional Trading of Monster Beverage

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Monster Beverage by 3.2% in the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock valued at $4,542,320,000 after buying an additional 2,122,685 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Monster Beverage by 1.4% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 22,718 shares of the company’s stock valued at $1,529,000 after acquiring an additional 318 shares in the last quarter. Fifth Third Bancorp grew its stake in Monster Beverage by 1.0% during the 3rd quarter. Fifth Third Bancorp now owns 271,061 shares of the company’s stock valued at $18,245,000 after acquiring an additional 2,690 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Monster Beverage by 3.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 260,056 shares of the company’s stock valued at $17,504,000 after acquiring an additional 7,992 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Monster Beverage by 6.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 220,753 shares of the company’s stock worth $14,859,000 after purchasing an additional 13,171 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Company Profile

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.