UBS Group Cuts Monster Beverage (NASDAQ:MNST) Price Target to $60.00

Monster Beverage (NASDAQ:MNST) had its price objective cut by UBS Group from $61.00 to $60.00 in a report released on Friday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on MNST. Truist Financial downgraded shares of Monster Beverage from a buy rating to a sell rating and dropped their price target for the company from $65.00 to $46.00 in a report on Thursday, April 25th. JPMorgan Chase & Co. cut Monster Beverage from an overweight rating to a neutral rating and dropped their target price for the stock from $66.00 to $59.00 in a research report on Thursday, April 25th. Morgan Stanley boosted their target price on shares of Monster Beverage from $63.00 to $68.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Monster Beverage from $64.00 to $63.00 and set a buy rating on the stock in a research note on Monday, February 26th. Finally, Redburn Atlantic initiated coverage on Monster Beverage in a research note on Wednesday, March 6th. They issued a buy rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $61.32.

Monster Beverage Stock Down 1.4 %

Shares of MNST stock opened at $54.22 on Friday. The business’s fifty day moving average is $56.81 and its 200 day moving average is $55.89. The stock has a market cap of $56.48 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.27 and a beta of 0.74. Monster Beverage has a twelve month low of $47.13 and a twelve month high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. Monster Beverage’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts expect that Monster Beverage will post 1.79 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

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 completion of the sale, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Several hedge funds have recently modified their holdings of MNST. Empowered Funds LLC raised its stake in shares of Monster Beverage by 307.1% during the 1st quarter. Empowered Funds LLC now owns 22,843 shares of the company’s stock worth $1,354,000 after acquiring an additional 17,232 shares in the last quarter. Defender Capital LLC. boosted its stake in Monster Beverage by 2.2% in the 1st quarter. Defender Capital LLC. now owns 379,407 shares of the company’s stock worth $22,491,000 after purchasing an additional 8,330 shares in the last quarter. AIA Group Ltd grew its position in Monster Beverage by 26.8% during the 1st quarter. AIA Group Ltd now owns 43,513 shares of the company’s stock worth $2,579,000 after purchasing an additional 9,198 shares during the last quarter. Deuterium Capital Management LLC acquired a new position in Monster Beverage during the 1st quarter valued at approximately $2,483,000. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Monster Beverage by 22.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 72,967 shares of the company’s stock worth $4,325,000 after buying an additional 13,287 shares during the last quarter. Hedge funds and other 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.