Citigroup Trims Monster Beverage (NASDAQ:MNST) Target Price to $60.00

Monster Beverage (NASDAQ:MNSTGet Free Report) had its price objective cut by research analysts at Citigroup from $69.00 to $60.00 in a report issued on Wednesday, Briefing.com reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 21.21% from the company’s current price.

MNST has been the subject of a number of other research reports. Truist Financial cut 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. Bank of America reduced their price objective on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of Monster Beverage in a research note on Monday, July 1st. Roth Mkm dropped their target price on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. Finally, Morgan Stanley dropped their target price on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.70.

Read Our Latest Stock Analysis on Monster Beverage

Monster Beverage Trading Down 0.6 %

NASDAQ MNST traded down $0.30 during trading hours on Wednesday, hitting $49.50. 207,147 shares of the company’s stock were exchanged, compared to its average volume of 7,484,727. The stock has a 50-day simple moving average of $51.68 and a 200 day simple moving average of $55.00. Monster Beverage has a 1-year low of $47.13 and a 1-year high of $61.22. The firm has a market cap of $51.57 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.99 and a beta of 0.76.

Monster Beverage (NASDAQ:MNSTGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the business posted $0.38 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Monster Beverage will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Vidergauz sold 15,077 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock valued at $16,070,374 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Monster Beverage

Several hedge funds have recently made changes to their positions in MNST. Alps Advisors Inc. purchased a new position in shares of Monster Beverage in the third quarter valued at $315,000. Integrated Advisors Network LLC grew its position in shares of Monster Beverage by 27.4% in the third quarter. Integrated Advisors Network LLC now owns 4,438 shares of the company’s stock valued at $235,000 after purchasing an additional 954 shares in the last quarter. Comerica Bank purchased a new position in shares of Monster Beverage in the third quarter valued at $14,560,000. Public Sector Pension Investment Board grew its position in shares of Monster Beverage by 8.9% in the third quarter. Public Sector Pension Investment Board now owns 79,667 shares of the company’s stock valued at $4,218,000 after purchasing an additional 6,500 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Monster Beverage by 33.5% in the third quarter. American Century Companies Inc. now owns 3,782,074 shares of the company’s stock valued at $200,261,000 after purchasing an additional 948,133 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

About Monster Beverage

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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