Guggenheim started coverage on shares of Monster Beverage (NASDAQ:MNST) in a research note issued to investors on Thursday morning, The Fly reports. The brokerage issued a buy rating and a $72.00 price objective on the stock.
A number of other brokerages have also recently weighed in on MNST. BidaskClub raised shares of Monster Beverage from a hold rating to a buy rating in a research report on Saturday, June 30th. ValuEngine raised shares of Monster Beverage from a sell rating to a hold rating in a research report on Saturday, June 2nd. Susquehanna Bancshares set a $42.00 price target on shares of Monster Beverage and gave the company a sell rating in a research report on Thursday, June 7th. Zacks Investment Research raised shares of Monster Beverage from a hold rating to a buy rating and set a $68.00 price target on the stock in a research report on Friday, July 20th. Finally, Jefferies Financial Group lifted their price target on shares of Monster Beverage from $62.00 to $63.00 and gave the company a buy rating in a research report on Friday, June 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $64.41.
MNST opened at $59.53 on Thursday. Monster Beverage has a 1 year low of $47.61 and a 1 year high of $70.21. The company has a market capitalization of $32.21 billion, a P/E ratio of 40.77, a P/E/G ratio of 2.11 and a beta of 1.29.
Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Monster Beverage had a net margin of 25.27% and a return on equity of 24.39%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. analysts anticipate that Monster Beverage will post 1.73 EPS for the current fiscal year.
Monster Beverage announced that its board has initiated a share repurchase plan on Wednesday, May 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, insider Emelie Tirre sold 17,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the sale, the insider now owns 46,847 shares in the company, valued at $2,853,450.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of MNST. Janus Henderson Group PLC raised its stake in shares of Monster Beverage by 414.7% during the second quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock valued at $245,188,000 after purchasing an additional 3,447,585 shares during the period. Voya Investment Management LLC increased its stake in shares of Monster Beverage by 24.4% in the second quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after buying an additional 1,071,066 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Monster Beverage in the second quarter worth $56,494,000. Millennium Management LLC increased its stake in shares of Monster Beverage by 133.5% in the second quarter. Millennium Management LLC now owns 1,099,631 shares of the company’s stock worth $63,009,000 after buying an additional 628,708 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Monster Beverage by 10.1% in the first quarter. JPMorgan Chase & Co. now owns 6,792,151 shares of the company’s stock worth $388,579,000 after buying an additional 623,336 shares during the last quarter. Institutional investors own 64.55% of the company’s stock.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its 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 drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes 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; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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