Brokerages Set Monster Beverage Co. (NASDAQ:MNST) Price Target at $56.45

Monster Beverage Co. (NASDAQ:MNST) has received an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $56.45.

MNST has been the topic of a number of research reports. TD Cowen lifted their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Bank of America upped their target price on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. UBS Group lifted their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus raised their price target on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $52.65, for a total value of $526,500.00. Following the completion of the sale, the chief financial officer now directly owns 74,924 shares in the company, valued at $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dai ichi Life Insurance Company Ltd increased its stake in Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock valued at $1,192,000 after buying an additional 532 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Monster Beverage by 6.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock worth $13,124,000 after acquiring an additional 15,611 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Monster Beverage by 6.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after purchasing an additional 9,496 shares during the last quarter. Swedbank AB lifted its holdings in shares of Monster Beverage by 23.1% during the second quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after buying an additional 22,823 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Monster Beverage by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company’s stock valued at $203,365,000 after purchasing an additional 596,078 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $51.95 on Friday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $53.52 and a two-hundred day simple moving average of $51.06. The stock has a market cap of $50.52 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 2.49 and a beta of 0.74. Monster Beverage has a 52 week low of $43.32 and a 52 week high of $61.22.

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.