Monster Beverage (NASDAQ:MNST) Price Target Lowered to $56.00 at BMO Capital Markets

Monster Beverage (NASDAQ:MNST - Get Free Report) had its price target decreased by investment analysts at BMO Capital Markets from $58.00 to $56.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' price target would suggest a potential upside of 1.82% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. Piper Sandler raised their price objective on Monster Beverage from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday. Truist Financial lowered shares of Monster Beverage from a "buy" rating to a "sell" rating and reduced their price objective for the company from $65.00 to $46.00 in a research note on Thursday, April 25th. JPMorgan Chase & Co. downgraded shares of Monster Beverage from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $66.00 to $59.00 in a research report on Thursday, April 25th. The Goldman Sachs Group upped their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, January 17th. Finally, Citigroup lifted their price objective on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage presently has an average rating of "Moderate Buy" and a consensus price target of $61.32.

Monster Beverage Price Performance

Shares of MNST traded up $1.61 during midday trading on Friday, reaching $55.00. The stock had a trading volume of 12,204,284 shares, compared to its average volume of 5,490,875. The firm's 50 day moving average price is $56.84 and its 200-day moving average price is $55.73. Monster Beverage has a 52 week low of $47.13 and a 52 week high of $61.22. The company has a market capitalization of $57.29 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.19 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the business posted $0.38 EPS. The business's revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts forecast that Monster Beverage will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the transaction, the director now owns 777,840 shares of the company's stock, valued at approximately $45,542,532. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.40% of the company's stock.

Institutional Trading of Monster Beverage

Several large investors have recently modified their holdings of MNST. Peoples Bank KS acquired a new stake in shares of Monster Beverage in the third quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new position in Monster Beverage in the 4th quarter worth approximately $27,000. Headinvest LLC acquired a new position in shares of Monster Beverage during the third quarter worth approximately $28,000. Tortoise Investment Management LLC boosted its position in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company's stock valued at $29,000 after acquiring an additional 396 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Monster Beverage in the third quarter worth $31,000. 72.36% of the stock is owned by institutional investors.

About Monster Beverage

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.