Wells Fargo & Company Issues Positive Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price objective increased by investment analysts at Wells Fargo & Company from $57.00 to $60.00 in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.21% from the stock’s current price.

MNST has been the topic of a number of other research reports. Truist Financial dropped their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Evercore ISI reduced their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup dropped their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Jefferies Financial Group dropped their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.79.

Monster Beverage Stock Performance

NASDAQ MNST opened at $54.44 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 company has a fifty day simple moving average of $51.40 and a 200 day simple moving average of $51.00. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $61.22. The company has a market cap of $53.33 billion, a P/E ratio of 33.81, a PEG ratio of 2.47 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that Monster Beverage will post 1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monster Beverage

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Monster Beverage by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after buying an additional 1,059,042 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Monster Beverage by 0.3% during the first quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock worth $691,182,000 after acquiring an additional 37,391 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Monster Beverage by 4.1% in the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock worth $664,469,000 after acquiring an additional 440,962 shares during the period. Ninety One UK Ltd grew its position in shares of Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after purchasing an additional 3,620,436 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Monster Beverage by 34.1% during the 1st quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after purchasing an additional 1,234,718 shares during the period. 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.