Monster Beverage (NASDAQ:MNST) Given New $48.00 Price Target at Wells Fargo & Company

Monster Beverage (NASDAQ:MNST) had its price target trimmed by Wells Fargo & Company from $53.00 to $48.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. UBS Group boosted their price objective on shares of Monster Beverage from $52.00 to $52.50 and gave the stock a “neutral” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price target on shares of Monster Beverage in a research report on Monday, August 10th. Piper Sandler raised their price objective on shares of Monster Beverage from $47.00 to $50.50 and gave the stock an “overweight” rating in a report on Friday, August 7th. Sanford C. Bernstein started coverage on Monster Beverage in a research note on Friday, June 12th. They issued a “market perform” rating and a $47.50 target price for the company. Finally, Evercore raised their price target on shares of Monster Beverage from $47.50 to $52.50 and gave the company an “outperform” rating in a report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.10.

Monster Beverage Stock Performance

Monster Beverage stock opened at $43.51 on Monday. The business’s 50-day simple moving average is $45.34 and its 200-day simple moving average is $43.68. The firm has a market capitalization of $85.24 billion, a PE ratio of 40.29, a PEG ratio of 2.80 and a beta of 0.49. Monster Beverage has a 52 week low of $32.94 and a 52 week high of $50.17.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%.The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 EPS. Research analysts forecast that Monster Beverage will post 1.11 earnings per share for the current year.

Institutional Investors Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Monster Beverage in the 2nd quarter valued at approximately $5,770,004,000. Bank of America Corp DE bought a new stake in Monster Beverage in the second quarter valued at approximately $1,195,360,000. Wellington Management Group LLP lifted its holdings in Monster Beverage by 27.8% during the 2nd 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 during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Monster Beverage during the 2nd quarter worth about $593,075,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Monster Beverage by 23.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock worth $553,414,000 after acquiring an additional 1,461,167 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

About Monster Beverage

Monster Beverage Corporation is a beverage company that develops, markets, and distributes energy drinks and related alternative beverages. Its flagship Monster Energy brand offers a range of energy drinks in multiple flavors and formulations, including products designed for performance, focus, and lifestyle-oriented consumption.

The company’s portfolio also includes brands such as Reign, NOS, Full Throttle, Burn, and Mother, along with other energy and beverage products sold under regional or strategic brand arrangements.