Morgan Stanley Raises Monster Beverage (NASDAQ:MNST) Price Target to $117.00

Monster Beverage (NASDAQ:MNSTGet Rating) had its target price upped by research analysts at Morgan Stanley from $111.00 to $117.00 in a note issued to investors on Monday, Briefing.com reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 28.50% from the stock’s previous close.

MNST has been the subject of several other reports. Stifel Nicolaus cut their price objective on shares of Monster Beverage from $107.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, March 10th. Zacks Investment Research upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating and set a $92.00 price objective for the company in a research report on Friday, April 22nd. Wells Fargo & Company raised their price objective on shares of Monster Beverage from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. StockNews.com started coverage on shares of Monster Beverage in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Credit Suisse Group dropped their price target on shares of Monster Beverage from $119.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 18th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $100.31.

Monster Beverage stock opened at $91.05 on Monday. Monster Beverage has a 52 week low of $71.78 and a 52 week high of $99.89. The stock has a market capitalization of $48.23 billion, a P/E ratio of 35.11, a PEG ratio of 2.11 and a beta of 1.01. The stock has a 50-day simple moving average of $85.26 and a 200 day simple moving average of $85.79.

Monster Beverage (NASDAQ:MNSTGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Monster Beverage had a return on equity of 21.21% and a net margin of 23.32%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that Monster Beverage will post 2.68 earnings per share for the current year.

In other Monster Beverage news, insider Emelie Tirre sold 40,729 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $88.06, for a total transaction of $3,586,595.74. Following the completion of the transaction, the insider now directly owns 19,526 shares in the company, valued at $1,719,459.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MNST. OLD Mission Capital LLC bought a new stake in shares of Monster Beverage during the third quarter worth $5,669,000. Natixis grew its stake in shares of Monster Beverage by 1,852.6% during the third quarter. Natixis now owns 62,014 shares of the company’s stock worth $5,509,000 after buying an additional 58,838 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Monster Beverage by 130.2% in the third quarter. HighTower Advisors LLC now owns 32,783 shares of the company’s stock worth $2,912,000 after purchasing an additional 18,544 shares during the last quarter. Evoke Wealth LLC grew its stake in shares of Monster Beverage by 8.0% in the third quarter. Evoke Wealth LLC now owns 3,222 shares of the company’s stock worth $286,000 after purchasing an additional 238 shares during the last quarter. Finally, Veritable L.P. grew its stake in shares of Monster Beverage by 1.6% in the third quarter. Veritable L.P. now owns 12,528 shares of the company’s stock worth $1,113,000 after purchasing an additional 192 shares during the last quarter. 63.44% of the stock is currently owned by hedge funds and other institutional investors.

About Monster Beverage (Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

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