Monster Beverage (NASDAQ:MNST) Shares Gap Up Following Analyst Upgrade

Monster Beverage Co. (NASDAQ:MNST)’s share price gapped up prior to trading on Friday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $60.00 to $61.00. The stock had previously closed at $51.92, but opened at $55.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Monster Beverage shares last traded at $54.81, with a volume of 1,698,495 shares.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus boosted their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC assumed coverage on shares of Monster Beverage in a report on Friday, December 6th. They set a “hold” rating on the stock. TD Cowen upped their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. Argus lifted their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, BNP Paribas reduced their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.63.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the transaction, the chief financial officer now owns 74,924 shares of the company’s stock, valued at $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Monster Beverage

Institutional investors have recently made changes to their positions in the stock. Sustainable Insight Capital Management LLC acquired a new position in Monster Beverage during the fourth quarter worth about $1,214,000. Van ECK Associates Corp grew its holdings in shares of Monster Beverage by 5.3% in the 4th quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock worth $8,101,000 after acquiring an additional 7,780 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Monster Beverage by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock valued at $13,124,000 after purchasing an additional 15,611 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Monster Beverage by 6.7% during the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after purchasing an additional 9,496 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in Monster Beverage during the fourth quarter worth $7,090,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

The company has a market cap of $52.94 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. 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 company has a fifty day simple moving average of $50.21 and a two-hundred day simple moving average of $51.08.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. On average, equities research analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

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.