Monster Beverage Co. (MNST) Receives $64.74 Average Price Target from Analysts

Monster Beverage Co. (NASDAQ:MNST) has been given an average rating of “Buy” by the eighteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $64.74.

A number of analysts have recently weighed in on the company. Deutsche Bank assumed coverage on Monster Beverage in a research report on Wednesday, December 13th. They set a “hold” rating and a $66.00 target price for the company. Susquehanna Bancshares reiterated a “sell” rating and set a $56.00 target price on shares of Monster Beverage in a research report on Thursday, January 18th. Jefferies Group upped their target price on Monster Beverage from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, November 28th. Cowen reiterated a “buy” rating and set a $77.00 target price on shares of Monster Beverage in a research report on Monday, January 22nd. Finally, Macquarie upped their target price on Monster Beverage from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 21st.

In related news, CEO Rodney C. Sacks sold 697 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $44,963.47. Following the completion of the sale, the chief executive officer now directly owns 963,789 shares in the company, valued at approximately $62,174,028.39. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Rodney C. Sacks sold 898 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $57,929.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 268,026 shares of company stock valued at $17,179,867. 9.40% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP increased its holdings in Monster Beverage by 994.3% in the 4th quarter. Two Sigma Advisers LP now owns 1,758,697 shares of the company’s stock worth $111,308,000 after purchasing an additional 1,597,976 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Monster Beverage in the 4th quarter worth about $84,599,000. Renaissance Technologies LLC increased its holdings in Monster Beverage by 108.4% in the 4th quarter. Renaissance Technologies LLC now owns 2,222,900 shares of the company’s stock worth $140,687,000 after purchasing an additional 1,156,300 shares in the last quarter. Jennison Associates LLC increased its holdings in Monster Beverage by 8.9% in the 4th quarter. Jennison Associates LLC now owns 13,126,248 shares of the company’s stock worth $830,760,000 after purchasing an additional 1,072,773 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Monster Beverage by 19.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock worth $338,810,000 after purchasing an additional 1,008,607 shares in the last quarter. Institutional investors and hedge funds own 65.26% of the company’s stock.

Shares of Monster Beverage (NASDAQ MNST) traded up $0.47 during midday trading on Tuesday, reaching $65.40. The company’s stock had a trading volume of 850,281 shares, compared to its average volume of 2,410,000. Monster Beverage has a 52-week low of $41.02 and a 52-week high of $70.21. The firm has a market cap of $36,620.00, a price-to-earnings ratio of 47.74, a price-to-earnings-growth ratio of 1.90 and a beta of 1.09.

COPYRIGHT VIOLATION NOTICE: This news story was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://stocknewstimes.com/2018/02/23/monster-beverage-co-mnst-receives-64-74-average-price-target-from-analysts.html.

Monster Beverage Company Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply