Deutsche Bank Aktiengesellschaft Trims Monster Beverage (NASDAQ:MNST) Target Price to $63.00

Monster Beverage (NASDAQ:MNST) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $66.00 to $63.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. UBS Group lowered their target price on shares of Monster Beverage from $61.00 to $60.00 and set a neutral rating on the stock in a report on Friday, May 3rd. BMO Capital Markets dropped their price objective on Monster Beverage from $58.00 to $56.00 and set a market perform rating for the company in a report on Friday, May 3rd. Jefferies Financial Group increased their target price on Monster Beverage from $66.00 to $69.00 and gave the stock a buy rating in a report on Thursday, February 29th. Piper Sandler increased their price objective on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Monster Beverage from $65.00 to $63.00 and set a buy rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $61.11.

Monster Beverage Price Performance

MNST opened at $48.03 on Friday. The business has a fifty day simple moving average of $53.27 and a 200 day simple moving average of $55.66. Monster Beverage has a 1 year low of $47.13 and a 1 year high of $61.22. The company has a market capitalization of $50.03 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. Equities analysts anticipate that Monster Beverage will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the sale, the director now directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the transaction, the director now directly owns 68,167 shares in the company, valued at $3,534,458.95. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock valued at $16,070,374 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Monster Beverage by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after purchasing an additional 1,059,042 shares during the last quarter. Wellington Management Group LLP raised its stake in Monster Beverage by 20.3% during the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after buying an additional 3,296,466 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Monster Beverage by 0.3% in the first quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock valued at $691,182,000 after buying an additional 37,391 shares during the period. Janus Henderson Group PLC boosted its position in Monster Beverage by 4.1% during the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after acquiring an additional 440,962 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Monster Beverage by 40.6% during the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock worth $603,659,000 after acquiring an additional 3,026,657 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Company Profile

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.