Monster Beverage (NASDAQ:MNST) Reaches New 1-Year High - Here's Why

Key Points

• Monster Beverage's stock reached a new 52-week high of $67.32 amid active trading, demonstrating strong market performance.
• Analysts have set new price targets for Monster Beverage, with Citigroup raising it to $76.00, indicating positive sentiment on the stock's potential.
• Monster Beverage's recent quarterly earnings showed a net margin of 20.54% and revenue of $2.11 billion, reflecting an 11.1% increase compared to the same quarter last year.

Monster Beverage Corporation (NASDAQ:MNST - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $67.32 and last traded at $66.94, with a volume of 157036 shares trading hands. The stock had previously closed at $66.96.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on Monster Beverage from $74.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. The Goldman Sachs Group boosted their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the stock an "overweight" rating in a research note on Friday, August 8th. UBS Group increased their price objective on Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of "Hold" and a consensus price target of $65.19.

Monster Beverage Stock Down 0.0%

The stock has a market capitalization of $65.36 billion, a P/E ratio of 41.55, a PEG ratio of 2.27 and a beta of 0.54. The company has a 50-day moving average price of $62.87 and a two-hundred day moving average price of $61.34.

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

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors have recently made changes to their positions in MNST. Corient Private Wealth LLC lifted its holdings in shares of Monster Beverage by 101.8% during the 2nd quarter. Corient Private Wealth LLC now owns 1,567,140 shares of the company's stock worth $98,166,000 after acquiring an additional 790,673 shares during the last quarter. Caldwell Trust Co bought a new position in shares of Monster Beverage during the 2nd quarter valued at about $106,000. Valeo Financial Advisors LLC raised its holdings in shares of Monster Beverage by 9.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,192 shares of the company's stock valued at $450,000 after buying an additional 629 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Monster Beverage by 28.6% in the second quarter. Osaic Holdings Inc. now owns 195,874 shares of the company's stock worth $12,189,000 after buying an additional 43,552 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new position in Monster Beverage during the second quarter valued at approximately $160,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.