Monster Beverage (NASDAQ:MNST – Free Report) had its target price increased by TD Cowen from $90.00 to $95.00 in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has a hold rating on the stock.
MNST has been the subject of a number of other reports. Sanford C. Bernstein began coverage on shares of Monster Beverage in a research note on Friday, June 12th. They issued a “market perform” rating and a $95.00 target price for the company. Morgan Stanley set a $103.00 price objective on Monster Beverage and gave the stock an “overweight” rating in a report on Monday, June 1st. JPMorgan Chase & Co. reduced their price target on Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $84.00 target price (up from $80.00) on shares of Monster Beverage in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.95.
View Our Latest Stock Analysis on Monster Beverage
Monster Beverage Price Performance
Shares of Monster Beverage are going to split on the morning of Tuesday, August 11th. The 2-1 split was announced on Wednesday, July 8th. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 10th.
Monster Beverage (NASDAQ:MNST – Get Free Report) last posted its earnings results on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. Sell-side analysts expect that Monster Beverage will post 2.31 EPS for the current fiscal year.
Monster Beverage declared that its board has approved a share repurchase program on Friday, May 15th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 0.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Insiders Place Their Bets
In related news, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total value of $614,670.00. Following the sale, the chief financial officer owned 62,553 shares in the company, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Guy Carling sold 19,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total value of $1,727,100.00. Following the sale, the chief executive officer directly owned 21,863 shares of the company’s stock, valued at $1,987,346.70. This represents a 46.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 178,700 shares of company stock worth $15,457,562 in the last three months. 8.10% of the stock is owned by corporate insiders.
Institutional Trading of Monster Beverage
Several hedge funds and other institutional investors have recently modified their holdings of MNST. New York State Teachers Retirement System grew its stake in shares of Monster Beverage by 3.4% in the fourth quarter. New York State Teachers Retirement System now owns 637,066 shares of the company’s stock valued at $48,844,000 after acquiring an additional 21,169 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Monster Beverage by 6.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company’s stock worth $15,173,000 after purchasing an additional 12,050 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Monster Beverage by 7.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,605,873 shares of the company’s stock valued at $122,303,000 after buying an additional 116,510 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Monster Beverage by 12.2% in the fourth quarter. Nordea Investment Management AB now owns 880,061 shares of the company’s stock valued at $67,738,000 after buying an additional 95,606 shares during the period. Finally, Ethic Inc. grew its position in Monster Beverage by 27.0% during the fourth quarter. Ethic Inc. now owns 124,400 shares of the company’s stock worth $9,538,000 after buying an additional 26,419 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.
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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