Wells Fargo & Company Raises Monster Beverage (NASDAQ:MNST) Price Target to $67.00

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price objective lifted by research analysts at Wells Fargo & Company from $65.00 to $67.00 in a research note issued to investors on Monday, MarketBeat reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 10.70% from the company's previous close.

A number of other research analysts also recently commented on the company. Truist Financial increased their target price on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Bank of America raised their price objective on Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. UBS Group boosted their target price on shares of Monster Beverage from $57.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $59.00 price target on shares of Monster Beverage in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group increased their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $58.89.

Monster Beverage Stock Up 0.8 %

Shares of MNST traded up $0.50 during trading on Monday, reaching $60.52. The company's stock had a trading volume of 3,823,846 shares, compared to its average volume of 6,951,125. The company has a market cap of $59.02 billion, a price-to-earnings ratio of 38.80, a P/E/G ratio of 2.28 and a beta of 0.63. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $57.65 and a two-hundred day moving average of $53.86. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.29.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. On average, sell-side analysts predict that Monster Beverage will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other news, insider Emelie Tirre sold 91,316 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now owns 76,201 shares in the company, valued at $4,220,011.38. The trade was a 54.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the transaction, the chief financial officer now directly owns 72,273 shares of the company's stock, valued at $3,994,528.71. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,316 shares of company stock valued at $11,484,440. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MNST. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after purchasing an additional 203 shares during the period. Spire Wealth Management purchased a new stake in Monster Beverage in the 4th quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Monster Beverage during the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC purchased a new position in shares of Monster Beverage during the 4th quarter valued at $30,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Monster Beverage in the fourth quarter worth $31,000. 72.36% of the stock is owned by institutional investors and hedge funds.

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.