BMO Capital Markets Raises Monster Beverage (NASDAQ:MNST) Price Target to $97.00

Monster Beverage (NASDAQ:MNSTGet Rating) had its price target upped by BMO Capital Markets from $95.00 to $97.00 in a report issued on Wednesday, Marketbeat Ratings reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Wedbush initiated coverage on shares of Monster Beverage in a research report on Monday, October 10th. They issued a neutral rating and a $95.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Monster Beverage from $105.00 to $115.00 and gave the company an overweight rating in a research report on Tuesday, January 3rd. UBS Group lifted their price target on shares of Monster Beverage from $99.00 to $102.00 and gave the company a neutral rating in a research report on Friday, November 4th. StockNews.com initiated coverage on shares of Monster Beverage in a research report on Wednesday, October 12th. They set a hold rating on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Monster Beverage from $105.00 to $113.00 in a research report on Friday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of Moderate Buy and an average price target of $106.67.

Monster Beverage Price Performance

Monster Beverage stock opened at $100.00 on Wednesday. Monster Beverage has a 12-month low of $71.78 and a 12-month high of $104.65. The stock has a market capitalization of $52.17 billion, a P/E ratio of 44.25, a P/E/G ratio of 2.99 and a beta of 0.90. The firm’s 50-day moving average is $101.24 and its two-hundred day moving average is $95.25.

Monster Beverage (NASDAQ:MNSTGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Monster Beverage had a net margin of 19.46% and a return on equity of 17.91%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts forecast that Monster Beverage will post 2.28 EPS for the current year.

Monster Beverage announced that its Board of Directors has approved a stock repurchase program on Thursday, November 3rd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 74,998 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $98.96, for a total value of $7,421,802.08. Following the transaction, the insider now owns 21,038 shares in the company, valued at approximately $2,081,920.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Monster Beverage news, insider Emelie Tirre sold 74,998 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $98.96, for a total transaction of $7,421,802.08. Following the completion of the sale, the insider now owns 21,038 shares of the company’s stock, valued at $2,081,920.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Guy Carling sold 36,250 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $97.66, for a total value of $3,540,175.00. Following the completion of the sale, the insider now directly owns 25,901 shares of the company’s stock, valued at $2,529,491.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,504 shares of company stock worth $12,217,237. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC bought a new stake in shares of Monster Beverage during the first quarter worth $27,000. Janiczek Wealth Management LLC raised its stake in shares of Monster Beverage by 311.4% during the 2nd quarter. Janiczek Wealth Management LLC now owns 288 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Monster Beverage during the 3rd quarter worth approximately $29,000. Valley National Advisers Inc. raised its stake in shares of Monster Beverage by 88.2% during the 3rd quarter. Valley National Advisers Inc. now owns 399 shares of the company’s stock worth $36,000 after purchasing an additional 187 shares in the last quarter. Finally, Venture Visionary Partners LLC acquired a new position in shares of Monster Beverage during the 2nd quarter worth approximately $39,000. 75.11% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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