Monster Beverage Corp (NASDAQ:MNST) Receives Consensus Recommendation of “Buy” from Brokerages

Monster Beverage Corp (NASDAQ:MNST) has received an average recommendation of “Buy” from the eighteen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $68.94.

A number of research firms have recently weighed in on MNST. Citigroup downgraded Monster Beverage from a “buy” rating to a “neutral” rating and cut their price target for the company from $77.00 to $73.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $68.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Royal Bank of Canada reissued a “buy” rating and issued a $67.00 price target on shares of Monster Beverage in a research note on Wednesday, April 22nd. UBS Group increased their price target on Monster Beverage from $51.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, May 8th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $78.00 price objective on shares of Monster Beverage in a research note on Friday, May 8th.

In other news, insider Emelie Tirre sold 84,465 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $66.41, for a total value of $5,609,320.65. Following the completion of the transaction, the insider now owns 96,903 shares in the company, valued at approximately $6,435,328.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas J. Kelly sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $68.29, for a total value of $1,024,350.00. Following the completion of the transaction, the executive vice president now owns 13,117 shares of the company’s stock, valued at approximately $895,759.93. The disclosure for this sale can be found here. Insiders sold a total of 196,108 shares of company stock worth $13,486,804 in the last three months. Company insiders own 10.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MNST. Bessemer Group Inc. grew its holdings in shares of Monster Beverage by 13.5% in the 4th quarter. Bessemer Group Inc. now owns 1,417 shares of the company’s stock valued at $91,000 after acquiring an additional 168 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Monster Beverage by 4.3% during the fourth quarter. Victory Capital Management Inc. now owns 322,681 shares of the company’s stock worth $20,506,000 after purchasing an additional 13,215 shares during the period. Lido Advisors LLC grew its holdings in Monster Beverage by 18.7% during the fourth quarter. Lido Advisors LLC now owns 4,219 shares of the company’s stock worth $268,000 after purchasing an additional 665 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Monster Beverage by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,026,882 shares of the company’s stock worth $128,809,000 after purchasing an additional 79,068 shares during the period. Finally, Citizens Financial Group Inc RI grew its holdings in Monster Beverage by 3.1% during the fourth quarter. Citizens Financial Group Inc RI now owns 5,369 shares of the company’s stock worth $342,000 after purchasing an additional 163 shares during the period. Institutional investors own 64.10% of the company’s stock.

MNST traded down $1.16 during mid-day trading on Friday, reaching $67.90. The stock had a trading volume of 2,044,998 shares, compared to its average volume of 3,310,684. The stock has a market capitalization of $35.84 billion, a P/E ratio of 32.80, a P/E/G ratio of 4.17 and a beta of 1.04. The firm’s fifty day simple moving average is $68.91 and its two-hundred day simple moving average is $64.53. Monster Beverage has a 52 week low of $50.06 and a 52 week high of $73.43.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $995.97 million. Monster Beverage had a return on equity of 27.77% and a net margin of 26.07%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. On average, equities analysts expect that Monster Beverage will post 2.07 earnings per share for the current fiscal year.

About Monster Beverage

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.

See Also: Why do companies issue monthly dividends?

Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.