UBS Group assumed coverage on shares of Monster Beverage (NASDAQ:MNST) in a report published on Thursday, 99wallstreet.com reports. The firm issued a sell rating and a $48.00 price objective on the stock.
A number of other equities research analysts have also issued reports on MNST. Zacks Investment Research lowered Monster Beverage from a buy rating to a hold rating in a research note on Wednesday, December 5th. BidaskClub upgraded Monster Beverage from a sell rating to a hold rating in a research note on Wednesday, October 24th. Morgan Stanley lowered Monster Beverage from an overweight rating to an equal weight rating and increased their price target for the stock from $50.02 to $57.00 in a research note on Thursday, November 8th. BMO Capital Markets cut their price target on Monster Beverage to $60.00 and set an outperform rating for the company in a research note on Friday, November 9th. They noted that the move was a valuation call. Finally, Citigroup set a $64.00 price target on Monster Beverage and gave the stock a buy rating in a research note on Friday, November 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $62.47.
Shares of MNST stock opened at $52.69 on Thursday. Monster Beverage has a 52-week low of $47.61 and a 52-week high of $70.21. The firm has a market capitalization of $29.14 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 1.86 and a beta of 1.39.
In other news, Director Harold C. Taber, Jr. sold 9,000 shares of the firm’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $54.55, for a total transaction of $490,950.00. Following the completion of the transaction, the director now owns 77,238 shares in the company, valued at $4,213,332.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas J. Kelly sold 14,661 shares of the firm’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $53.73, for a total value of $787,735.53. Following the transaction, the executive vice president now owns 24,312 shares of the company’s stock, valued at approximately $1,306,283.76. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its position in shares of Monster Beverage by 287.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock valued at $111,000 after purchasing an additional 1,409 shares in the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of Monster Beverage during the second quarter valued at about $123,000. Honkamp Krueger Financial Services Inc. purchased a new position in shares of Monster Beverage during the third quarter valued at about $129,000. Valeo Financial Advisors LLC purchased a new position in shares of Monster Beverage during the second quarter valued at about $181,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Monster Beverage during the second quarter valued at about $175,000. Hedge funds and other institutional investors own 64.23% of the company’s stock.
About Monster Beverage
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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