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

Monster Beverage Co. (NASDAQ:MNST - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $64.22 and last traded at $64.02, with a volume of 837151 shares. The stock had previously closed at $63.36.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Monster Beverage in a research note on Friday, February 28th. Piper Sandler lifted their price objective on shares of Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Jefferies Financial Group lifted 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. CICC Research raised shares of Monster Beverage from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $56.00 to $65.00 in a research report on Monday, May 12th. Finally, Truist Financial lifted their price target 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of "Moderate Buy" and an average price target of $60.81.

Monster Beverage Stock Down 0.2%

The firm has a market cap of $62.06 billion, a P/E ratio of 40.80, a price-to-earnings-growth 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 firm has a fifty day moving average of $59.78 and a 200-day moving average of $54.83.

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

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the sale, the insider now owns 76,201 shares in the company, valued at $4,220,011.38. This represents a 54.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark J. Hall sold 48,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total value of $2,634,720.00. Following the completion of the transaction, the director now directly owns 296,846 shares in the company, valued at $16,293,876.94. The trade was a 13.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 217,112 shares of company stock worth $12,033,838 over the last 90 days. Company insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of Monster Beverage in the first quarter valued at approximately $9,249,000. Carderock Capital Management Inc. grew its position in Monster Beverage by 18.4% during the first quarter. Carderock Capital Management Inc. now owns 54,768 shares of the company's stock worth $3,205,000 after buying an additional 8,522 shares in the last quarter. WBI Investments LLC acquired a new stake in Monster Beverage during the first quarter worth approximately $2,338,000. Intech Investment Management LLC grew its position in Monster Beverage by 3.3% during the first quarter. Intech Investment Management LLC now owns 126,852 shares of the company's stock worth $7,423,000 after buying an additional 4,018 shares in the last quarter. Finally, Bayforest Capital Ltd grew its position in Monster Beverage by 23.4% during the first quarter. Bayforest Capital Ltd now owns 2,127 shares of the company's stock worth $124,000 after buying an additional 404 shares in the last quarter. 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.