Monster Beverage (NASDAQ:MNST) Downgraded to Sell at Truist Financial

Truist Financial lowered shares of Monster Beverage (NASDAQ:MNST) from a buy rating to a sell rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. They currently have $46.00 price target on the stock, down from their prior price target of $65.00.

Several other research firms have also recently weighed in on MNST. HSBC cut their target price on Monster Beverage from $72.00 to $68.00 and set a buy rating for the company in a research note on Wednesday, March 6th. BMO Capital Markets upped their target price on Monster Beverage from $57.00 to $58.00 and gave the stock a market perform rating in a research note on Wednesday, January 17th. Citigroup increased their price target on Monster Beverage from $63.00 to $69.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $64.00 to $63.00 and set a buy rating for the company in a research note on Monday, February 26th. Finally, Jefferies Financial Group increased their price target on Monster Beverage from $66.00 to $69.00 and gave the company a buy rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of Moderate Buy and an average price target of $61.79.

Monster Beverage Trading Down 2.2 %

NASDAQ MNST opened at $53.15 on Thursday. The firm’s 50 day simple moving average is $57.00 and its 200 day simple moving average is $55.57. The firm has a market capitalization of $55.31 billion, a price-to-earnings ratio of 34.29, a P/E/G ratio of 2.22 and a beta of 0.72. Monster Beverage has a 1 year low of $47.13 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities research analysts forecast that Monster Beverage will post 1.81 earnings per share for the current year.

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a document filed with the SEC, which is available through this link. 9.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monster Beverage

A number of large investors have recently bought and sold shares of the stock. Peoples Bank KS bought a new position in shares of Monster Beverage during the 3rd quarter worth about $26,000. ICA Group Wealth Management LLC acquired a new stake in Monster Beverage in the fourth quarter valued at approximately $27,000. Headinvest LLC bought a new stake in shares of Monster Beverage during the third quarter valued at approximately $28,000. Tortoise Investment Management LLC raised its position in shares of Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 396 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Monster Beverage in the 3rd quarter worth $31,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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.