Monster Beverage (NASDAQ:MNST) Sets New 52-Week High - Time to Buy?

Key Points

• Monster Beverage's stock reached a new 52-week high of $68.07, closing at $67.97 with a trading volume of 755,112 shares.
• Multiple analysts upgraded the stock's price targets, with Morgan Stanley raising theirs from $70.00 to $74.00, reflecting a generally positive outlook.
• The company reported earnings per share of $0.52, exceeding expectations, and revenue of $2.11 billion, marking an 11.1% increase year-over-year.

Shares of Monster Beverage Corporation (NASDAQ:MNST - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $68.07 and last traded at $67.97, with a volume of 755112 shares traded. The stock had previously closed at $67.09.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MNST shares. Morgan Stanley upped their price objective on Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada set a $68.00 price objective on shares of Monster Beverage and gave the company an "outperform" rating in a research report on Friday, August 8th. UBS Group raised their target price on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Stifel Nicolaus assumed coverage on Monster Beverage in a research report on Thursday, June 12th. They set a "buy" rating and a $72.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $65.19.

Monster Beverage Stock Performance

The firm has a market capitalization of $66.40 billion, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 2.34 and a beta of 0.54. The business has a fifty day moving average of $63.61 and a 200-day moving average of $61.70.

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 (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insider Activity 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 sale, the director directly owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Monster Beverage

Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Monster Beverage in the 2nd quarter valued at about $544,584,000. Nuveen LLC bought a new stake in shares of Monster Beverage in the 1st quarter worth approximately $497,157,000. Schroder Investment Management Group lifted its stake in Monster Beverage by 4,877.8% during the second quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company's stock valued at $456,262,000 after purchasing an additional 7,137,552 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Monster Beverage by 467.0% during the second quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company's stock worth $422,996,000 after buying an additional 5,641,160 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Monster Beverage by 5,095.6% in the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after buying an additional 3,004,391 shares during the last quarter. 72.36% of the stock is currently 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.

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