Monster Beverage (NASDAQ:MNST) Price Target Cut to $49.00 by Analysts at JPMorgan Chase & Co.

Monster Beverage (NASDAQ:MNST) had its target price dropped by research analysts at JPMorgan Chase & Co. from $50.00 to $49.00 in a report issued on Monday, MarketBeat.com reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 9.44% from the stock’s previous close.

A number of other research firms also recently commented on MNST. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada cut their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lowered their price objective on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Roth Mkm cut their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Bank of America boosted their price target on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.79.

Monster Beverage Stock Up 0.1 %

Shares of NASDAQ MNST opened at $54.11 on Monday. The firm has a market cap of $53.00 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The firm’s 50 day moving average price is $51.25 and its 200 day moving average price is $50.97.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned $0.39 EPS. Monster Beverage’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Monster Beverage will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors have recently made changes to their positions in MNST. Vanguard Group Inc. increased its stake in shares of Monster Beverage by 1.7% in 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 during the last quarter. Clearbridge Investments LLC increased 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 purchasing an additional 37,391 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Monster Beverage by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after purchasing an additional 440,962 shares in the last quarter. Ninety One UK Ltd lifted 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 worth $373,519,000 after purchasing an additional 3,620,436 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock worth $288,082,000 after purchasing an additional 1,234,718 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

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.