Monster Beverage (NASDAQ:MNST) Research Coverage Started at Redburn Atlantic

by · The Markets Daily

Redburn Atlantic assumed coverage on shares of Monster Beverage (NASDAQ:MNST – Free Report) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating on the stock.

Several other brokerages have also recently issued reports on MNST. The Goldman Sachs Group lifted their target price on Monster Beverage from $62.00 to $68.00 and gave the stock a buy rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. lifted their price target on Monster Beverage from $61.00 to $65.00 and gave the stock an overweight rating in a research report on Wednesday, January 17th. Roth Mkm dropped their price target on Monster Beverage from $57.00 to $55.00 and set a neutral rating for the company in a research report on Monday, November 20th. BMO Capital Markets lifted their price target on Monster Beverage from $57.00 to $58.00 and gave the stock a market perform rating in a research report on Wednesday, January 17th. Finally, Jefferies Financial Group lifted their price target on Monster Beverage from $66.00 to $69.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $62.43.

Check Out Our Latest Analysis on MNST

Monster Beverage Trading Down 0.3 %

Shares of MNST stock opened at $59.18 on Wednesday. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $60.47. The stock’s 50-day moving average price is $56.79 and its 200-day moving average price is $55.18. The stock has a market capitalization of $61.59 billion, a price-to-earnings ratio of 38.18, a price-to-earnings-growth ratio of 2.25 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Monster Beverage will post 1.81 EPS for the current fiscal year.

Insider Transactions at Monster Beverage

In other news, insider Guy Carling sold 34,553 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,919,419.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Guy Carling sold 34,553 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,919,419.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The disclosure for this sale can be found here. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Hedge funds have recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Monster Beverage by 8.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,210 shares of the company’s stock valued at $1,017,000 after acquiring an additional 1,482 shares during the period. Corient Private Wealth LLC increased its position in shares of Monster Beverage by 112.2% in the 3rd quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock valued at $10,339,000 after acquiring an additional 103,271 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Monster Beverage by 11.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,308,114 shares of the company’s stock valued at $69,265,000 after purchasing an additional 129,153 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Monster Beverage by 146.5% in the second quarter. Tower Research Capital LLC TRC now owns 42,927 shares of the company’s stock valued at $2,466,000 after purchasing an additional 25,511 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in Monster Beverage by 68.2% in the third quarter. Inspire Investing LLC now owns 13,727 shares of the company’s stock valued at $727,000 after purchasing an additional 5,567 shares during the last quarter. 64.60% of the stock is owned by institutional investors and hedge funds.

About Monster Beverage

(Get Free Report)

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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, 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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