Monster Beverage (NASDAQ:MNST) Price Target Cut to $54.00 by Analysts at Citigroup

Monster Beverage (NASDAQ:MNST) had its price objective reduced by Citigroup from $60.00 to $54.00 in a report published on Thursday, Marketbeat.com reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets cut their price objective on Monster Beverage from $58.00 to $56.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. Piper Sandler dropped their price target on Monster Beverage from $59.00 to $46.00 and set a neutral rating on the stock in a research report on Thursday. Bank of America dropped their price target on Monster Beverage from $62.00 to $60.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price target on Monster Beverage from $59.00 to $56.00 and set a neutral rating on the stock in a research report on Tuesday, July 23rd. Finally, Roth Mkm dropped their price target on Monster Beverage from $59.00 to $56.00 and set a neutral rating on the stock in a research report on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $56.19.

Monster Beverage Stock Performance

Shares of Monster Beverage stock traded up $1.05 during trading on Thursday, hitting $46.06. 14,553,289 shares of the stock traded hands, compared to its average volume of 7,446,106. The stock has a market cap of $47.98 billion, a P/E ratio of 28.97, a PEG ratio of 2.09 and a beta of 0.76. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a fifty day moving average price of $50.26 and a two-hundred day moving average price of $53.91.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the business posted $0.39 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Monster Beverage will post 1.75 EPS for the current fiscal year.

Insider Activity at Monster Beverage

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the sale, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the transaction, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares in the company, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders have sold a total of 307,221 shares of company stock valued at $16,070,374 in the last 90 days. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after purchasing an additional 1,059,042 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Monster Beverage by 0.3% in the first quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock worth $691,182,000 after purchasing an additional 37,391 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Monster Beverage by 4.1% in the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock worth $664,469,000 after purchasing an additional 440,962 shares in the last quarter. Capital Research Global Investors boosted its stake in Monster Beverage by 40.6% in the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock worth $603,659,000 after purchasing an additional 3,026,657 shares in the last quarter. Finally, Norges Bank acquired a new position in Monster Beverage in the fourth quarter worth $517,035,000. Institutional investors and hedge funds 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.