Monster Beverage (NASDAQ:MNST – Get Rating) had its price target raised by Wells Fargo & Company from $58.00 to $65.00 in a research report sent to investors on Friday morning, The Fly reports. Wells Fargo & Company currently has an overweight rating on the stock.
Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of Monster Beverage from $61.00 to $67.00 and gave the stock a buy rating in a research note on Friday. UBS Group boosted their target price on shares of Monster Beverage from $54.00 to $56.00 and gave the stock a neutral rating in a research note on Thursday, April 6th. Argus boosted their target price on shares of Monster Beverage from $59.00 to $60.00 and gave the stock a buy rating in a research note on Tuesday, March 21st. Redburn Partners raised shares of Monster Beverage from a neutral rating to a buy rating and set a $60.00 target price on the stock in a research note on Monday, March 6th. Finally, Wedbush decreased their target price on shares of Monster Beverage to $52.00 and set a neutral rating on the stock in a research note on Friday, April 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $59.74.
Monster Beverage Price Performance
Shares of NASDAQ:MNST opened at $59.71 on Friday. The company’s 50 day simple moving average is $53.87 and its 200 day simple moving average is $51.47. The stock has a market capitalization of $62.39 billion, a price-to-earnings ratio of 48.94, a price-to-earnings-growth ratio of 1.81 and a beta of 0.86. Monster Beverage has a 1 year low of $41.10 and a 1 year high of $60.47.
Insider Buying and Selling at Monster Beverage
In other Monster Beverage news, insider Emelie Tirre sold 2,502 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $49.97, for a total transaction of $125,024.94. Following the sale, the insider now owns 48,234 shares of the company’s stock, valued at $2,410,252.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.
Hedge Funds Weigh In On Monster Beverage
Institutional investors and hedge funds have recently made changes to their positions in the stock. FORA Capital LLC bought a new position in shares of Monster Beverage during the 3rd quarter worth about $774,000. Keybank National Association OH boosted its position in shares of Monster Beverage by 5.8% during the 3rd quarter. Keybank National Association OH now owns 10,917 shares of the company’s stock worth $949,000 after purchasing an additional 601 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Monster Beverage by 19.8% during the 3rd quarter. Ieq Capital LLC now owns 21,195 shares of the company’s stock worth $1,843,000 after purchasing an additional 3,502 shares in the last quarter. Securian Asset Management Inc. boosted its position in shares of Monster Beverage by 3.1% during the 3rd quarter. Securian Asset Management Inc. now owns 31,980 shares of the company’s stock worth $2,781,000 after purchasing an additional 950 shares in the last quarter. Finally, Credit Suisse AG boosted its position in shares of Monster Beverage by 52.1% during the 3rd quarter. Credit Suisse AG now owns 743,245 shares of the company’s stock worth $64,633,000 after purchasing an additional 254,738 shares in the last quarter. Institutional investors own 75.11% of the company’s stock.
About Monster Beverage
Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full-service beverage distributors.
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