Wells Fargo & Company Cuts Monster Beverage (NASDAQ:MNST) Price Target to $90.00

Monster Beverage (NASDAQ:MNST) had its target price decreased by Wells Fargo & Company from $94.00 to $90.00 in a report published on Monday morning, Marketbeat.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

MNST has been the subject of a number of other reports. TD Cowen lifted their price objective on Monster Beverage from $80.00 to $88.00 and gave the company a “hold” rating in a report on Friday, February 27th. Royal Bank Of Canada increased their target price on shares of Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Stifel Nicolaus lifted their price target on shares of Monster Beverage from $82.00 to $92.00 and gave the company a “buy” rating in a report on Friday, February 27th. BMO Capital Markets restated a “market perform” rating and issued a $73.00 price target (up from $53.00) on shares of Monster Beverage in a research report on Wednesday, December 3rd. Finally, Piper Sandler upped their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.95.

Monster Beverage Trading Down 4.5%

MNST stock opened at $74.09 on Monday. Monster Beverage has a 1-year low of $54.73 and a 1-year high of $87.38. The business’s 50 day moving average is $80.20 and its 200-day moving average is $73.73. The firm has a market cap of $72.39 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.51 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.Monster Beverage’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Sell-side analysts forecast that Monster Beverage will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MNST. Exchange Traded Concepts LLC boosted its holdings in Monster Beverage by 222.4% in the third quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock valued at $3,385,000 after acquiring an additional 34,697 shares during the last quarter. Prudential PLC raised its holdings in Monster Beverage by 76.4% during the 2nd quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after purchasing an additional 47,165 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in Monster Beverage by 87.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock worth $2,163,000 after purchasing an additional 15,029 shares during the last quarter. VestGen Advisors LLC lifted its position in Monster Beverage by 449.4% during the 2nd quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock valued at $1,376,000 after purchasing an additional 17,974 shares during the period. Finally, ABN AMRO Bank N.V. acquired a new position in Monster Beverage during the 3rd quarter valued at about $59,170,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.