Several other equities research analysts have also recently weighed in on MNST. Jefferies Financial Group increased their price objective on Monster Beverage from $70.00 to $71.00 and gave the company a buy rating in a research report on Thursday, August 9th. BidaskClub raised Monster Beverage from a hold rating to a buy rating in a research report on Friday, August 17th. Zacks Investment Research raised Monster Beverage from a hold rating to a buy rating and set a $68.00 target price for the company in a research report on Friday, July 20th. BMO Capital Markets raised their target price on Monster Beverage from $68.00 to $70.00 and gave the stock an outperform rating in a research report on Thursday, July 19th. Finally, ValuEngine cut Monster Beverage from a buy rating to a hold rating in a research report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $63.38.
Shares of MNST traded up $0.32 during trading hours on Friday, reaching $60.00. The company’s stock had a trading volume of 3,466,802 shares, compared to its average volume of 3,109,302. Monster Beverage has a 1-year low of $47.61 and a 1-year high of $70.21. The company has a market capitalization of $33.00 billion, a price-to-earnings ratio of 41.10, a P/E/G ratio of 2.11 and a beta of 1.38.
Monster Beverage declared that its board has initiated a stock repurchase plan on Wednesday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Institutional investors have recently bought and sold shares of the stock. Laurel Wealth Advisors Inc. boosted its holdings in Monster Beverage by 14.5% during the second quarter. Laurel Wealth Advisors Inc. now owns 6,594 shares of the company’s stock worth $377,000 after buying an additional 836 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Monster Beverage by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 6,900 shares of the company’s stock valued at $402,000 after purchasing an additional 975 shares in the last quarter. HPM Partners LLC lifted its holdings in shares of Monster Beverage by 3.6% during the 3rd quarter. HPM Partners LLC now owns 28,296 shares of the company’s stock valued at $1,649,000 after purchasing an additional 991 shares in the last quarter. Supplemental Annuity Collective Trust of NJ lifted its holdings in shares of Monster Beverage by 25.0% during the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 5,000 shares of the company’s stock valued at $287,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in shares of Monster Beverage by 21.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,660 shares of the company’s stock valued at $324,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.
About Monster Beverage
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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