Monster Beverage (NASDAQ:MNST) Rating Increased to Strong-Buy at BidaskClub
Several other research firms have also recently issued reports on MNST. SunTrust Banks upped their target price on shares of Monster Beverage from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada restated a “buy” rating and set a $67.00 target price on shares of Monster Beverage in a research note on Wednesday, April 22nd. Credit Suisse Group reiterated a “buy” rating and issued a $78.00 price objective on shares of Monster Beverage in a research note on Friday, May 8th. Stifel Nicolaus increased their price objective on shares of Monster Beverage from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, April 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.24.
MNST traded up $0.66 during midday trading on Thursday, hitting $78.48. 2,102,712 shares of the company traded hands, compared to its average volume of 2,071,181. The firm has a market capitalization of $41.32 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The company’s 50-day moving average is $71.28 and its 200 day moving average is $66.14. Monster Beverage has a 52 week low of $50.06 and a 52 week high of $78.48.
In related news, Director Mark J. Hall sold 64,643 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $72.82, for a total value of $4,707,303.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sydney Selati sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $66.07, for a total transaction of $330,350.00. Following the completion of the transaction, the director now directly owns 40,445 shares of the company’s stock, valued at $2,672,201.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 196,108 shares of company stock valued at $13,486,804. Insiders own 10.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Jacobi Capital Management LLC lifted its position in Monster Beverage by 1,073.0% in the second quarter. Jacobi Capital Management LLC now owns 4,387 shares of the company’s stock worth $26,000 after buying an additional 4,013 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Monster Beverage in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. raised its position in Monster Beverage by 120.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 557 shares of the company’s stock valued at $39,000 after purchasing an additional 304 shares in the last quarter. Balentine LLC acquired a new stake in Monster Beverage in the 1st quarter valued at about $41,000. Finally, Verus Capital Partners LLC acquired a new stake in Monster Beverage in the 4th quarter valued at about $64,000. Institutional investors own 64.05% of the company’s stock.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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