Monster Beverage (MNST) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Monster Beverage (NASDAQ:MNST) from a sell rating to a hold rating in a report published on Thursday, April 18th, BidAskClub reports.

Other analysts have also issued research reports about the stock. ValuEngine raised shares of Monster Beverage from a hold rating to a buy rating in a research report on Friday, March 1st. UBS Group set a $52.00 price target on shares of Monster Beverage and gave the company a sell rating in a research report on Thursday, February 28th. BMO Capital Markets boosted their price target on shares of Monster Beverage from $60.00 to $62.00 and gave the company an outperform rating in a research report on Thursday, February 28th. Credit Suisse Group began coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They set an outperform rating and a $78.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of Monster Beverage from $57.00 to $62.00 and gave the company an equal weight rating in a research note on Thursday, February 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $63.03.

Monster Beverage stock traded up $1.08 during midday trading on Thursday, hitting $63.00. 3,587,629 shares of the stock were exchanged, compared to its average volume of 4,120,785. The stock has a market cap of $33.66 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.10 and a beta of 1.53. Monster Beverage has a 52-week low of $47.61 and a 52-week high of $66.38.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.43 by $0.05. The business had revenue of $946.00 million for the quarter, compared to analyst estimates of $919.49 million. Monster Beverage had a net margin of 26.61% and a return on equity of 28.35%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts predict that Monster Beverage will post 2.07 EPS for the current fiscal year.

In other news, EVP Thomas J. Kelly sold 25,719 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $59.68, for a total value of $1,534,909.92. Following the completion of the sale, the executive vice president now owns 35,370 shares of the company’s stock, valued at approximately $2,110,881.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harold C. Taber, Jr. sold 11,772 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.58, for a total transaction of $748,463.76. Following the completion of the sale, the director now directly owns 72,240 shares of the company’s stock, valued at approximately $4,593,019.20. The disclosure for this sale can be found here. Insiders sold a total of 456,594 shares of company stock valued at $28,126,156 in the last ninety days. 9.70% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Monster Beverage by 4.2% in the 4th quarter. BlackRock Inc. now owns 25,120,708 shares of the company’s stock worth $1,236,441,000 after purchasing an additional 1,009,563 shares in the last quarter. Geode Capital Management LLC raised its holdings in Monster Beverage by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock worth $262,159,000 after purchasing an additional 289,340 shares in the last quarter. Northern Trust Corp raised its holdings in Monster Beverage by 1.0% in the 4th quarter. Northern Trust Corp now owns 4,759,064 shares of the company’s stock worth $234,241,000 after purchasing an additional 48,167 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Monster Beverage by 4,494.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock worth $94,000 after purchasing an additional 4,519,673 shares in the last quarter. Finally, Norges Bank bought a new position in Monster Beverage in the 4th quarter worth $209,565,000. Institutional investors own 65.46% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.

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Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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