Monster Beverage (NASDAQ:MNST) was downgraded by research analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $59.00 target price on the stock, down from their previous target price of $67.00. Goldman Sachs Group’s target price indicates a potential upside of 2.70% from the company’s current price.
MNST has been the topic of a number of other research reports. UBS Group set a $48.00 target price on shares of Monster Beverage and gave the company a “sell” rating in a research note on Friday, January 18th. ValuEngine upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. BidaskClub upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating in a research note on Saturday, January 12th. Finally, SunTrust Banks upped their target price on shares of Monster Beverage to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.53.
Shares of Monster Beverage stock traded down $0.47 during trading on Wednesday, reaching $57.45. The company had a trading volume of 1,082,007 shares, compared to its average volume of 4,204,545. The firm has a market cap of $32.91 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 1.91 and a beta of 1.55. Monster Beverage has a fifty-two week low of $47.61 and a fifty-two week high of $66.38.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, February 27th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $924.23 million for the quarter, compared to analyst estimates of $907.75 million. Monster Beverage had a net margin of 26.08% and a return on equity of 26.96%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. Equities analysts expect that Monster Beverage will post 2.04 EPS for the current year.
In related news, EVP Thomas J. Kelly sold 25,719 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $59.68, for a total transaction of $1,534,909.92. Following the sale, the executive vice president now owns 35,370 shares in the company, valued at $2,110,881.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harold C. Taber, Jr. sold 11,772 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.58, for a total transaction of $748,463.76. Following the sale, the director now owns 72,240 shares in the company, valued at approximately $4,593,019.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,253 shares of company stock worth $3,842,637. 9.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNST. Oregon Public Employees Retirement Fund raised its stake in Monster Beverage by 4,494.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock worth $94,000 after acquiring an additional 4,519,673 shares during the period. Norges Bank acquired a new stake in Monster Beverage during the fourth quarter worth about $209,565,000. Thrivent Financial for Lutherans raised its stake in Monster Beverage by 1,288.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,147,995 shares of the company’s stock worth $105,724,000 after acquiring an additional 1,993,335 shares during the period. Glenmede Trust Co. NA raised its stake in Monster Beverage by 101,575.8% during the third quarter. Glenmede Trust Co. NA now owns 1,985,729 shares of the company’s stock worth $115,727,000 after acquiring an additional 1,983,776 shares during the period. Finally, USS Investment Management Ltd acquired a new stake in Monster Beverage during the fourth quarter worth about $94,311,000. Hedge funds and other institutional investors own 65.23% of the company’s stock.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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