Redburn Atlantic Reaffirms "Neutral" Rating for Monster Beverage (NASDAQ:MNST)

Monster Beverage (NASDAQ:MNST - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Redburn Atlantic in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $60.00 target price on the stock, down from their previous target price of $63.00. Redburn Atlantic's target price indicates a potential upside of 0.72% from the company's previous close.

Several other research firms have also recently commented on MNST. Wells Fargo & Company raised their price target on Monster Beverage from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, June 13th. Truist Financial boosted their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. CICC Research upgraded shares of Monster Beverage from a "market perform" rating to an "outperform" rating and increased their price target for the company from $56.00 to $65.00 in a report on Monday, May 12th. Morgan Stanley upped their price target on Monster Beverage from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Finally, UBS Group lifted their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $61.87.

Monster Beverage Stock Performance

Monster Beverage stock traded down $2.02 during midday trading on Wednesday, hitting $59.57. 9,962,928 shares of the company's stock were exchanged, compared to its average volume of 6,004,186. The firm's 50 day simple moving average is $62.49 and its 200 day simple moving average is $56.67. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $64.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The stock has a market cap of $58.10 billion, a price-to-earnings ratio of 39.19, a price-to-earnings-growth ratio of 2.23 and a beta of 0.59.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The business had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company's quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts predict that Monster Beverage will post 1.62 EPS for the current year.

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the completion of the sale, the insider directly owned 89,501 shares in the company, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the transaction, the chief financial officer directly owned 69,273 shares in the company, valued at $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

Institutional Investors Weigh In On Monster Beverage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNST. Nuveen LLC acquired a new position in shares of Monster Beverage in the first quarter worth about $497,157,000. Norges Bank acquired a new stake in shares of Monster Beverage in the 4th quarter valued at about $442,642,000. CIBC Private Wealth Group LLC lifted its position in shares of Monster Beverage by 659.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after purchasing an additional 4,231,063 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Monster Beverage by 5,095.6% in the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after purchasing an additional 3,004,391 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new stake in Monster Beverage in the fourth quarter valued at about $121,575,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Company Profile

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.