Citigroup Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Monster Beverage (NASDAQ:MNST) had its target price lifted by analysts at Citigroup from $62.00 to $64.00 in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 17.11% from the stock’s current price.

Other equities analysts have also issued research reports about the company. BNP Paribas lowered their price target on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. TD Cowen lifted their price target on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Monster Beverage in a report on Friday. Argus lifted their price objective on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their price objective on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.26.

Monster Beverage Price Performance

MNST opened at $54.65 on Friday. The stock has a 50-day moving average price of $50.27 and a 200-day moving average price of $51.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The firm has a market cap of $53.15 billion, a PE ratio of 35.03, a P/E/G ratio of 2.28 and a beta of 0.74. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. Sell-side analysts predict that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business’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 transaction of $526,500.00. Following the completion of the transaction, the chief financial officer now directly owns 74,924 shares in the company, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sustainable Insight Capital Management LLC bought a new position in shares of Monster Beverage during the 4th quarter valued at approximately $1,214,000. Van ECK Associates Corp grew its stake in shares of Monster Beverage by 5.3% during the 4th quarter. Van ECK Associates Corp now owns 154,125 shares of the company’s stock valued at $8,101,000 after acquiring an additional 7,780 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Monster Beverage by 6.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 251,570 shares of the company’s stock valued at $13,124,000 after acquiring an additional 15,611 shares during the period. Daiwa Securities Group Inc. grew its stake 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 valued at $7,897,000 after acquiring an additional 9,496 shares during the period. Finally, Miracle Mile Advisors LLC bought a new position in shares of Monster Beverage during the 4th quarter valued at approximately $7,090,000. 72.36% of the stock is currently owned by institutional investors.

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.