Monster Beverage (NASDAQ:MNST) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo lowered Monster Beverage’s price target from $53 to $48 while maintaining an “overweight” rating, implying approximately 11.71% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $50.10 based on 13 Buy and nine Hold ratings.
• Monster reported quarterly results above expectations, posting $0.60 in earnings per share and $2.50 billion in revenue, with revenue rising 20.2% year over year; institutional investors own 72.36% of the stock.

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price target reduced by Wells Fargo & Company from $53.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 11.71% from the stock's previous close.

MNST has been the topic of a number of other research reports. Sanford C. Bernstein initiated coverage on Monster Beverage in a research note on Friday, June 12th. They set a "market perform" rating and a $47.50 target price on the stock. UBS Group boosted their price objective on Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a report on Friday, August 7th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. BNP Paribas Exane reiterated a "neutral" rating on shares of Monster Beverage in a research note on Monday, September 28th. Finally, Citigroup reiterated a "buy" rating on shares of Monster Beverage in a research report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.10.

Monster Beverage Trading Up 0.1%

Shares of NASDAQ:MNST opened at $42.97 on Monday. The stock has a fifty day simple moving average of $45.43 and a two-hundred day simple moving average of $43.65. Monster Beverage has a 12-month low of $32.94 and a 12-month high of $50.17. The stock has a market capitalization of $84.18 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 2.80 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The business's revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that Monster Beverage will post 1.11 EPS for the current year.

Institutional Investors Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNST. CI Investments Inc. raised its position in shares of Monster Beverage by 3.5% in the 1st quarter. CI Investments Inc. now owns 3,497 shares of the company's stock worth $253,000 after acquiring an additional 119 shares in the last quarter. Root Financial Partners LLC grew its position in Monster Beverage by 2.8% during the 1st quarter. Root Financial Partners LLC now owns 4,981 shares of the company's stock valued at $361,000 after purchasing an additional 137 shares during the last quarter. Wealth Alliance LLC increased its position in shares of Monster Beverage by 2.2% during the first quarter. Wealth Alliance LLC now owns 6,752 shares of the company's stock valued at $489,000 after acquiring an additional 148 shares in the last quarter. CX Institutional increased its holdings in shares of Monster Beverage by 2.4% in the 2nd quarter. CX Institutional now owns 6,384 shares of the company's stock worth $614,000 after purchasing an additional 148 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Monster Beverage by 1.0% in the first quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company's stock worth $1,275,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

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.

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