Monster Beverage (NASDAQ:MNST) Price Target Raised to $70.00

Monster Beverage (NASDAQ:MNST - Free Report) had its target price lifted by Wells Fargo & Company from $67.00 to $70.00 in a research report report published on Friday morning, MarketBeat reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. TD Cowen boosted their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Bank of America upped their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Citigroup increased their price objective on Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, April 14th. CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $56.00 to $65.00 in a report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Monster Beverage presently has an average rating of "Moderate Buy" and an average price target of $62.05.

Monster Beverage Price Performance

MNST traded down $0.63 during trading on Friday, reaching $63.06. 6,155,824 shares of the company were exchanged, compared to its average volume of 6,090,860. The company's 50-day moving average is $60.79 and its two-hundred day moving average is $55.45. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $64.45. The company has a market cap of $61.50 billion, a price-to-earnings ratio of 40.42, a P/E/G ratio of 2.28 and a beta of 0.60.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the company earned $0.42 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts forecast that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider now owns 89,501 shares in the company, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer now owns 69,273 shares of the company's stock, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MNST. Wayfinding Financial LLC bought a new stake in shares of Monster Beverage during the first quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new position in Monster Beverage during the 4th quarter worth $31,000. Park Square Financial Group LLC acquired a new stake in Monster Beverage in the 4th quarter worth approximately $36,000. Coppell Advisory Solutions LLC grew its holdings in shares of Monster Beverage by 259.2% during the fourth quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after buying an additional 495 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after purchasing an additional 196 shares during the period. 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.