Monster Beverage (NASDAQ:MNST) Price Target Raised to $55.00

Monster Beverage (NASDAQ:MNST) had its price objective hoisted by stock analysts at TD Cowen from $50.00 to $55.00 in a report issued on Monday, MarketBeat reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price points to a potential downside of 1.82% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BMO Capital Markets lowered their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Truist Financial lowered their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Finally, UBS Group raised their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Stock Up 0.5 %

Shares of Monster Beverage stock opened at $56.02 on Monday. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The stock has a 50-day moving average price of $51.86 and a 200 day moving average price of $51.00. The company has a market cap of $54.87 billion, a P/E ratio of 35.91, a P/E/G ratio of 2.47 and a beta of 0.74.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently modified their holdings of MNST. Empowered Funds LLC increased its position 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 purchasing an additional 17,232 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in Monster Beverage by 5.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 11,863 shares of the company’s stock valued at $703,000 after purchasing an additional 580 shares during the period. QRG Capital Management Inc. grew its holdings in Monster Beverage by 7.3% in the 1st quarter. QRG Capital Management Inc. now owns 66,795 shares of the company’s stock valued at $3,960,000 after buying an additional 4,524 shares in the last quarter. Russell Investments Group Ltd. increased its position in Monster Beverage by 20.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,009,304 shares of the company’s stock worth $59,830,000 after buying an additional 167,923 shares during the period. Finally, Avantax Advisory Services Inc. bought a new stake in Monster Beverage in the 1st quarter valued at about $1,063,000. 72.36% of the stock is currently 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.