Monster Beverage (NASDAQ:MNST) Given New $53.00 Price Target at UBS Group

Monster Beverage (NASDAQ:MNST) had its target price dropped by analysts at UBS Group from $57.00 to $53.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 6.75% from the stock’s current price.

A number of other brokerages have also recently issued reports on MNST. JPMorgan Chase & Co. decreased their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. BNP Paribas lowered their price objective on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company boosted their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Needham & Company LLC assumed coverage on Monster Beverage in a report on Friday, December 6th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.10.

Monster Beverage Stock Up 0.8 %

NASDAQ MNST traded up $0.39 during trading on Thursday, reaching $49.65. The company’s stock had a trading volume of 5,058,417 shares, compared to its average volume of 4,845,087. The business has a 50-day moving average price of $53.10 and a 200-day moving average price of $51.27. Monster Beverage has a 1-year low of $43.32 and a 1-year high of $61.22. The stock has a market capitalization of $48.28 billion, a PE ratio of 31.83, a PEG ratio of 2.10 and a beta of 0.74. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling

In related news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $52.65, for a total value of $526,500.00. Following the sale, the chief financial officer now owns 74,924 shares of the company’s stock, valued at $3,944,748.60. The trade was a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monster Beverage

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Monster Beverage by 6.9% in the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock worth $1,760,341,000 after buying an additional 2,168,379 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Monster Beverage by 4.7% during the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock worth $1,416,048,000 after acquiring an additional 1,229,789 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Monster Beverage by 109.3% during the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after acquiring an additional 11,779,162 shares during the period. Geode Capital Management LLC boosted its stake in shares of Monster Beverage by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 15,728,086 shares of the company’s stock valued at $817,490,000 after purchasing an additional 473,418 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Monster Beverage by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company’s stock worth $203,365,000 after purchasing an additional 596,078 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

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.