Brokerages Set Monster Beverage Co. (NASDAQ:MNST) Target Price at $56.30

Monster Beverage Co. (NASDAQ:MNST) has been assigned an average recommendation of “Moderate Buy” from the twenty-two analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $56.30.

Several equities research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BNP Paribas decreased their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC initiated coverage on Monster Beverage in a research note on Friday, December 6th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, TD Cowen upped their target price on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th.

Monster Beverage Stock Down 1.7 %

NASDAQ:MNST opened at $49.26 on Thursday. The stock has a fifty day simple moving average of $53.10 and a 200-day simple moving average of $51.27. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company has a market cap of $47.91 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.22.

Insider Buying and Selling at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the completion of the sale, the chief financial officer now owns 74,924 shares in the company, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC boosted its holdings in Monster Beverage by 33.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 6,452 shares of the company’s stock worth $339,000 after acquiring an additional 1,622 shares in the last quarter. HB Wealth Management LLC boosted its stake in Monster Beverage by 29.2% in the 4th quarter. HB Wealth Management LLC now owns 11,654 shares of the company’s stock worth $613,000 after purchasing an additional 2,631 shares in the last quarter. Premier Path Wealth Partners LLC purchased a new stake in Monster Beverage during the 4th quarter worth approximately $222,000. Retirement Wealth Solutions LLC purchased a new stake in Monster Beverage during the 4th quarter worth approximately $30,000. Finally, Brooklyn Investment Group increased its stake in Monster Beverage by 20.9% during the 4th quarter. Brooklyn Investment Group now owns 4,245 shares of the company’s stock valued at $223,000 after purchasing an additional 734 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

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.