Monster Beverage (NASDAQ:MNST) PT Raised to $57.00 at Bank of America

Monster Beverage (NASDAQ:MNST) had its target price hoisted by equities researchers at Bank of America from $56.00 to $57.00 in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 6.38% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial reduced their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company cut their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Citigroup cut their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Jefferies Financial Group cut their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.68.

Monster Beverage Price Performance

NASDAQ:MNST opened at $53.58 on Tuesday. Monster Beverage has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $55.82 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.29 and a beta of 0.74. The stock’s fifty day moving average is $49.35 and its two-hundred day moving average is $51.19.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. Monster Beverage’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts expect that Monster Beverage will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Monster Beverage by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after acquiring an additional 1,059,042 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Monster Beverage by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock worth $691,182,000 after acquiring an additional 37,391 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Monster Beverage by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock worth $664,469,000 after acquiring an additional 440,962 shares in the last quarter. Ninety One UK Ltd boosted its position in shares of Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after acquiring an additional 3,620,436 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Monster Beverage by 34.1% during the 1st quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock worth $288,082,000 after acquiring an additional 1,234,718 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

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.