Piper Sandler Boosts Monster Beverage (NASDAQ:MNST) Price Target to $59.00

Monster Beverage (NASDAQ:MNST) had its target price increased by Piper Sandler from $58.00 to $59.00 in a report published on Friday, Marketbeat reports. Piper Sandler currently has a neutral rating on the stock.

Several other research analysts have also weighed in on MNST. JPMorgan Chase & Co. lowered shares of Monster Beverage from an overweight rating to a neutral rating and dropped their price objective for the company from $66.00 to $59.00 in a research note on Thursday, April 25th. Jefferies Financial Group raised their price objective on Monster Beverage from $66.00 to $69.00 and gave the company a buy rating in a research note on Thursday, February 29th. UBS Group boosted their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a neutral rating in a research report on Thursday, February 29th. HSBC dropped their price target on Monster Beverage from $72.00 to $68.00 and set a buy rating on the stock in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus reduced their price objective on Monster Beverage from $65.00 to $63.00 and set a buy rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage presently has an average rating of Moderate Buy and a consensus target price of $61.32.

Monster Beverage Stock Down 1.4 %

Shares of Monster Beverage stock traded down $0.78 during midday trading on Friday, hitting $54.22. The company’s stock had a trading volume of 10,018,493 shares, compared to its average volume of 5,542,921. Monster Beverage has a 1-year low of $47.13 and a 1-year high of $61.22. The firm has a market capitalization of $56.48 billion, a P/E ratio of 34.59, a PEG ratio of 2.27 and a beta of 0.74. The stock has a 50-day simple moving average of $56.84 and a 200-day simple moving average of $55.86.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, sell-side analysts predict that Monster Beverage will post 1.79 earnings per share for the current year.

Insider Buying and Selling

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monster Beverage

Several hedge funds have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Monster Beverage by 8.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,210 shares of the company’s stock worth $1,017,000 after buying an additional 1,482 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Monster Beverage by 112.2% during the third quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock worth $10,339,000 after buying an additional 103,271 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Monster Beverage during the 4th quarter worth about $7,340,000. Defender Capital LLC. increased its stake in shares of Monster Beverage by 30.2% in the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock valued at $21,378,000 after acquiring an additional 86,050 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in Monster Beverage by 9.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company’s stock valued at $590,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.