Monster Beverage (NASDAQ:MNST) Given New $67.00 Price Target at Wells Fargo & Company

Monster Beverage (NASDAQ:MNST) had its target price boosted by equities researchers at Wells Fargo & Company from $65.00 to $67.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 11.63% from the stock’s current price.

A number of other analysts have also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 target price on shares of Monster Beverage in a research report on Wednesday, January 22nd. Jefferies Financial Group lifted their price target on Monster Beverage from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Truist Financial raised their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their target price on shares of Monster Beverage from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Bank of America increased their price target on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.89.

Monster Beverage Trading Down 1.5 %

MNST opened at $60.02 on Monday. The business’s 50-day simple moving average is $57.53 and its 200-day simple moving average is $53.81. The company has a market cap of $58.53 billion, a P/E ratio of 38.47, a PEG ratio of 2.28 and a beta of 0.63. Monster Beverage has a one year low of $43.32 and a one year high of $61.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. As a group, equities research analysts expect that Monster Beverage will post 1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark J. Hall sold 48,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $54.89, for a total value of $2,634,720.00. Following the completion of the sale, the director now owns 296,846 shares of the company’s stock, valued at approximately $16,293,876.94. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the transaction, the insider now directly owns 76,201 shares in the company, valued at approximately $4,220,011.38. This trade represents a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,316 shares of company stock worth $11,484,440. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Monster Beverage

Several hedge funds and other institutional investors have recently made changes to their positions in MNST. Norges Bank acquired a new stake in shares of Monster Beverage during the 4th quarter valued at approximately $442,642,000. CIBC Private Wealth Group LLC increased its stake in Monster Beverage by 659.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company’s stock valued at $251,445,000 after purchasing an additional 4,231,063 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Monster Beverage by 5,095.6% during the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company’s stock worth $179,267,000 after purchasing an additional 3,004,391 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its position in Monster Beverage by 250.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock worth $178,801,000 after purchasing an additional 2,480,291 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new stake in Monster Beverage in the fourth quarter valued at $121,575,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

About Monster Beverage

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.