Monster Beverage (NASDAQ:MNST) Price Target Raised to $65.00

Monster Beverage (NASDAQ:MNST) had its price target increased by Argus from $55.00 to $65.00 in a report published on Tuesday, MarketBeat reports. The firm currently has a buy rating on the stock.

MNST has been the subject of several other reports. Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group lowered their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Roth Mkm reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Truist Financial dropped their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, TD Cowen lifted their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Trading Down 3.5 %

Shares of NASDAQ:MNST traded down $1.94 during midday trading on Tuesday, hitting $54.02. 2,780,591 shares of the stock were exchanged, compared to its average volume of 6,961,222. The business’s 50-day moving average price is $52.33 and its 200 day moving average price is $51.09. The stock has a market capitalization of $52.54 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 2.69 and a beta of 0.74. Monster Beverage has a 12 month low of $43.32 and a 12 month high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently bought and sold shares of the company. IHT Wealth Management LLC lifted its position in shares of Monster Beverage by 100.0% during the 3rd quarter. IHT Wealth Management LLC now owns 8,569 shares of the company’s stock valued at $445,000 after buying an additional 4,285 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Monster Beverage by 5.2% in the third quarter. Integrated Wealth Concepts LLC now owns 17,752 shares of the company’s stock worth $926,000 after purchasing an additional 882 shares in the last quarter. Investment Management Corp of Ontario raised its position in shares of Monster Beverage by 40.8% in the third quarter. Investment Management Corp of Ontario now owns 24,521 shares of the company’s stock valued at $1,279,000 after purchasing an additional 7,100 shares during the period. Janus Henderson Group PLC boosted 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 buying an additional 11,779,162 shares during the period. Finally, Hilltop Holdings Inc. purchased a new position in Monster Beverage in the 3rd quarter valued at approximately $620,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Company Profile

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.