JPMorgan Chase & Co. Cuts Monster Beverage (NASDAQ:MNST) Price Target to $49.00

Monster Beverage (NASDAQ:MNST) had its target price lowered by JPMorgan Chase & Co. from $50.00 to $49.00 in a report issued on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other brokerages also recently commented on MNST. Wells Fargo & Company reduced their target price on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Roth Mkm decreased their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group reduced their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Bank of America increased their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler reduced their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $55.79.

Monster Beverage Trading Up 0.6 %

Shares of MNST stock opened at $54.44 on Monday. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $51.40 and a 200 day simple moving average of $51.00. Monster Beverage has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The stock has a market capitalization of $53.33 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.47 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. On average, sell-side analysts expect that Monster Beverage will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Monster Beverage

Several hedge funds and other institutional investors have recently bought and sold shares of MNST. Vanguard Group Inc. grew its position in Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $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% in the 1st 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 during the period. Janus Henderson Group PLC grew its holdings in shares of Monster Beverage by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock worth $664,469,000 after purchasing an additional 440,962 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Monster Beverage by 93.9% during 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 during the period. Finally, William Blair Investment Management LLC increased its position in shares of Monster Beverage by 34.1% during the first 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. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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.