Brokerages Set Monster Beverage Co. (NASDAQ:MNST) PT at $55.85

Shares of Monster Beverage Co. (NASDAQ:MNST) have been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $55.63.

Several equities analysts have commented on MNST shares. Piper Sandler lowered their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. BNP Paribas started coverage on shares of Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 target price on the stock. Citigroup lowered their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. TD Cowen lowered their target price on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, July 15th. Finally, Truist Financial lowered their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $50.95 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The business has a fifty day simple moving average of $49.36 and a 200 day simple moving average of $51.66. The firm has a market cap of $53.08 billion, a price-to-earnings ratio of 32.04, a P/E/G ratio of 2.40 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. Monster Beverage’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. As a group, sell-side analysts predict that Monster Beverage will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

Several hedge funds have recently made changes to their positions in MNST. Cambridge Investment Research Advisors Inc. lifted its stake in Monster Beverage by 1.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,185 shares of the company’s stock worth $1,566,000 after purchasing an additional 344 shares during the period. Dorsey & Whitney Trust CO LLC bought a new position in Monster Beverage during the fourth quarter worth about $237,000. California State Teachers Retirement System lifted its stake in Monster Beverage by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 1,272,992 shares of the company’s stock worth $73,337,000 after purchasing an additional 23,818 shares during the period. CWA Asset Management Group LLC lifted its stake in Monster Beverage by 8.6% during the fourth quarter. CWA Asset Management Group LLC now owns 6,268 shares of the company’s stock worth $361,000 after purchasing an additional 496 shares during the period. Finally, NEOS Investment Management LLC lifted its stake in Monster Beverage by 2.9% during the fourth quarter. NEOS Investment Management LLC now owns 44,751 shares of the company’s stock worth $2,578,000 after purchasing an additional 1,280 shares during the period. Institutional investors own 72.36% of the company’s stock.

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.