Monster Beverage Corporation (MNST) Cut to “Neutral” at Citigroup Inc.

Citigroup Inc. lowered shares of Monster Beverage Corporation (NASDAQ:MNST) to a neutral rating in a research report released on Monday, The Fly reports. The firm currently has $51.00 price target on the stock, down from their prior price target of $56.00. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued reports about the stock. Jefferies Group LLC reiterated a buy rating and set a $65.00 price objective on shares of Monster Beverage Corporation in a research report on Friday, October 13th. Stifel Nicolaus reiterated a buy rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research report on Saturday, September 23rd. Royal Bank Of Canada reiterated a buy rating and set a $61.00 price objective on shares of Monster Beverage Corporation in a research report on Friday, September 22nd. BMO Capital Markets reiterated a buy rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Wednesday, September 6th. Finally, Cowen and Company reiterated a buy rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $58.74.

Shares of Monster Beverage Corporation (NASDAQ:MNST) opened at $61.27 on Monday. Monster Beverage Corporation has a 12-month low of $41.02 and a 12-month high of $62.80. The firm has a market cap of $34,554.03, a price-to-earnings ratio of 41.68, a PEG ratio of 2.18 and a beta of 0.91.

Monster Beverage Corporation (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Monster Beverage Corporation had a net margin of 23.92% and a return on equity of 23.45%. The company had revenue of $909.50 million during the quarter, compared to analysts’ expectations of $903.82 million. During the same period in the prior year, the company posted $0.34 earnings per share. Monster Beverage Corporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. equities research analysts expect that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.

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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now directly owns 52,000 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.40% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its stake in shares of Monster Beverage Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,349 shares of the company’s stock valued at $514,000 after buying an additional 27 shares in the last quarter. Accuvest Global Advisors lifted its stake in shares of Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock valued at $510,000 after buying an additional 38 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Monster Beverage Corporation by 0.5% in the second quarter. IFP Advisors Inc now owns 12,691 shares of the company’s stock valued at $630,000 after buying an additional 66 shares in the last quarter. Advisor Partners LLC lifted its stake in shares of Monster Beverage Corporation by 1.1% in the second quarter. Advisor Partners LLC now owns 7,898 shares of the company’s stock valued at $392,000 after buying an additional 87 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Monster Beverage Corporation by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,951 shares of the company’s stock valued at $1,488,000 after purchasing an additional 109 shares in the last quarter. 64.89% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Corporation Company Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

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Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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