Monster Beverage (NASDAQ:MNST) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Monster Beverage Co. (NASDAQ:MNST) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $51.10 and traded as high as $52.88. Monster Beverage shares last traded at $52.53, with a volume of 3,813,433 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MNST. Stifel Nicolaus increased their target price on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Argus raised their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Needham & Company LLC started coverage on shares of Monster Beverage in a research report on Friday, December 6th. They issued a “hold” rating for the company. Wells Fargo & Company raised their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.30.

Monster Beverage Stock Performance

The firm has a market cap of $51.12 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 2.49 and a beta of 0.74. 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 fifty day simple moving average of $53.46 and a two-hundred day simple moving average of $51.14.

Insider Transactions at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were 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 $3,944,748.60. The trade was a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

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

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.