Wells Fargo & Company Forecasts Strong Price Appreciation for Monster Beverage (NASDAQ:MNST) Stock

Monster Beverage (NASDAQ:MNST) had its target price boosted by Wells Fargo & Company from $57.00 to $60.00 in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Truist Financial cut their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Citigroup decreased their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI cut their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Roth Mkm decreased their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.79.

Monster Beverage Trading Up 0.1 %

Shares of MNST opened at $54.11 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The stock has a market cap of $53.00 billion, a PE ratio of 33.61, a PEG ratio of 2.37 and a beta of 0.74. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The stock has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $50.97.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Monster Beverage will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNST. Edmond DE Rothschild Holding S.A. raised its position in shares of Monster Beverage by 9.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock worth $124,000 after purchasing an additional 189 shares during the period. Journey Advisory Group LLC increased its stake in Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after purchasing an additional 196 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Monster Beverage by 5.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after purchasing an additional 209 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after buying an additional 211 shares in the last quarter. Finally, Crewe Advisors LLC lifted its stake in Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after buying an additional 232 shares in the last quarter. 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.