Monster Beverage (NASDAQ:MNST) Downgraded by JPMorgan Chase & Co.

Monster Beverage (NASDAQ:MNST) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Thursday, Marketbeat.com reports. They currently have a $59.00 price objective on the stock, down from their previous price objective of $66.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.55% from the stock’s current price.

MNST has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, February 26th. Royal Bank of Canada upped their price target on Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. The Goldman Sachs Group raised their price objective on Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and dropped their target price for the company from $65.00 to $46.00 in a report on Thursday. Finally, Citigroup increased their price target on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average target price of $61.79.

Monster Beverage Trading Up 0.4 %

Shares of Monster Beverage stock opened at $53.37 on Thursday. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22. The company has a market cap of $55.54 billion, a P/E ratio of 34.43, a PEG ratio of 2.22 and a beta of 0.72. The company’s fifty day simple moving average is $56.97 and its two-hundred day simple moving average is $55.60.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts predict that Monster Beverage will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.40% of the stock is owned by company insiders.

Institutional Trading of Monster Beverage

A number of institutional investors have recently made changes to their positions in MNST. Delta Financial Advisors LLC lifted its holdings in Monster Beverage by 0.9% in the third quarter. Delta Financial Advisors LLC now owns 19,168 shares of the company’s stock valued at $1,015,000 after acquiring an additional 180 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Monster Beverage by 5.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,659 shares of the company’s stock worth $211,000 after purchasing an additional 196 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in shares of Monster Beverage by 34.6% in the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock worth $41,000 after buying an additional 199 shares during the last quarter. PFG Investments LLC grew its position in Monster Beverage by 2.6% during the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock valued at $447,000 after buying an additional 199 shares during the period. Finally, Mainsail Financial Group LLC increased its holdings in Monster Beverage by 1.2% during the third quarter. Mainsail Financial Group LLC now owns 18,169 shares of the company’s stock valued at $955,000 after buying an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

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.