Monster Beverage (NASDAQ:MNST) Price Target Raised to $51.00

Monster Beverage (NASDAQ:MNST) had its price objective increased by research analysts at Sanford C. Bernstein from $50.00 to $51.00 in a report released on Monday, MarketBeat reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein‘s price target would suggest a potential upside of 11.55% from the company’s current price.

A number of other brokerages also recently issued reports on MNST. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.50 target price (down from $97.00) on shares of Monster Beverage in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. BMO Capital Markets reissued a “market perform” rating and issued a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a research note on Monday, July 20th. JPMorgan Chase & Co. lowered their price objective on shares of Monster Beverage from $49.50 to $49.00 and set a “neutral” rating for the company in a research report on Monday, October 26th. Finally, Evercore lowered their price objective on shares of Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $67.09.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $45.72 on Monday. The company has a market capitalization of $89.57 billion, a P/E ratio of 41.38, a P/E/G ratio of 2.89 and a beta of 0.51. Monster Beverage has a 1 year low of $34.26 and a 1 year high of $50.17. The business’s 50 day simple moving average is $44.71 and its 200 day simple moving average is $43.30.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Monster Beverage had a return on equity of 24.99% and a net margin of 22.66%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. On average, sell-side analysts anticipate that Monster Beverage will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNST. BlackRock Inc. acquired a new position in Monster Beverage in the 2nd quarter worth about $5,770,004,000. Ninety One UK Ltd raised its position in Monster Beverage by 89.1% in the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock valued at $545,444,000 after purchasing an additional 6,175,047 shares during the last quarter. Bank of America Corp DE raised its position in Monster Beverage by 0.8% in the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock valued at $908,102,000 after purchasing an additional 99,168 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Monster Beverage by 23.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after purchasing an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Monster Beverage by 27.8% during the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after purchasing an additional 1,624,416 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Company Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages.

The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012.

Based in Corona, California, Monster sells its products in the United States and internationally.