Monster Beverage (NASDAQ:MNST) Hits New 52-Week High - What's Next?

Key Points

• Monster Beverage reached a new 52-week high of $70.37 after trading as high as $70.08, with a trading volume of 754,145 shares.
• Analysts have varying ratings on the stock, with thirteen analysts rating it as a Buy, while others have set target prices ranging from $60.00 to $75.00.
• In its most recent quarterly earnings, Monster Beverage reported $2.11 billion in revenue, exceeding analysts' expectations and marking an 11.1% increase compared to the previous year.

Monster Beverage Corporation (NASDAQ:MNST - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $70.08 and last traded at $70.37, with a volume of 754145 shares. The stock had previously closed at $68.65.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the stock an "overweight" rating in a research note on Friday, August 8th. Roth Capital reaffirmed a "neutral" rating and issued a $60.00 target price (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price for the company. in a research note on Wednesday, July 9th. Weiss Ratings reissued a "buy (b-)" rating on shares of Monster Beverage in a research note on Wednesday, October 8th. Finally, Bank of America boosted their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $66.05.

Monster Beverage Price Performance

The stock has a market cap of $68.30 billion, a P/E ratio of 43.46, a P/E/G ratio of 2.39 and a beta of 0.54. The company's 50 day simple moving average is $64.82 and its 200 day simple moving average is $62.16.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, equities research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Access Investment Management LLC acquired a new position in Monster Beverage during the second quarter worth $25,000. Salomon & Ludwin LLC acquired a new position in Monster Beverage during the second quarter worth $28,000. Armstrong Advisory Group Inc. boosted its holdings in Monster Beverage by 49.0% during the third quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company's stock worth $30,000 after purchasing an additional 146 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company's stock worth $28,000 after purchasing an additional 415 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Monster Beverage during the first quarter worth $29,000. Institutional investors and hedge funds 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.

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