Shares of Monster Beverage Corp (NASDAQ:MNST) have been assigned a consensus rating of “Buy” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $65.00.
A number of research analysts have recently commented on MNST shares. ValuEngine cut Monster Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Guggenheim started coverage on Monster Beverage in a research report on Thursday, September 13th. They set a “buy” rating and a $72.00 price target on the stock. BidaskClub cut Monster Beverage from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Stifel Nicolaus upped their price target on Monster Beverage from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Finally, BMO Capital Markets upped their price target on Monster Beverage from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, July 19th.
Shares of NASDAQ MNST opened at $52.97 on Friday. Monster Beverage has a one year low of $47.61 and a one year high of $70.21. The firm has a market cap of $28.21 billion, a PE ratio of 36.28, a PEG ratio of 1.84 and a beta of 1.36.
Monster Beverage announced that its board has initiated a share repurchase plan on Wednesday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, insider Emelie Tirre sold 17,000 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the sale, the insider now directly owns 46,847 shares in the company, valued at approximately $2,853,450.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC bought a new position in Monster Beverage in the 2nd quarter worth about $123,000. Exane Derivatives increased its stake in Monster Beverage by 7,740.0% in the 2nd quarter. Exane Derivatives now owns 2,352 shares of the company’s stock worth $134,000 after acquiring an additional 2,322 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Monster Beverage in the 2nd quarter worth about $175,000. Valeo Financial Advisors LLC bought a new position in Monster Beverage in the 2nd quarter worth about $181,000. Finally, Gradient Investments LLC increased its stake in Monster Beverage by 940.9% in the 3rd quarter. Gradient Investments LLC now owns 3,435 shares of the company’s stock worth $200,000 after acquiring an additional 3,105 shares during the last quarter. Institutional investors own 64.90% 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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