Monster Beverage (NASDAQ:MNST) Rating Lowered to “Hold” at Redburn Atlantic

Monster Beverage (NASDAQ:MNST) was downgraded by Redburn Atlantic from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat reports. They currently have a $60.00 price objective on the stock, down from their prior price objective of $63.00. Redburn Atlantic’s price target indicates a potential upside of 1.40% from the company’s previous close.

A number of other brokerages also recently issued reports on MNST. Truist Financial increased their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research note on Wednesday, April 23rd. Bank of America increased their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Stifel Nicolaus initiated coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They set a “buy” rating and a $72.00 price objective on the stock. Finally, UBS Group increased their price objective on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.87.

Monster Beverage Trading Down 0.7%

MNST stock opened at $59.17 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The company’s 50-day simple moving average is $62.47 and its 200 day simple moving average is $56.74. Monster Beverage has a 52 week low of $43.32 and a 52 week high of $64.45. The company has a market capitalization of $57.71 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.11 and a beta of 0.59.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. Monster Beverage’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, sell-side analysts anticipate that Monster Beverage will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer owned 69,273 shares in the company, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider owned 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MNST. Wayfinding Financial LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $31,000. Webster Bank N. A. purchased a new stake in Monster Beverage during the second quarter worth about $38,000. Park Square Financial Group LLC purchased a new stake in Monster Beverage during the fourth quarter worth about $36,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of Monster Beverage by 259.2% in the fourth quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company’s stock valued at $36,000 after buying an additional 495 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

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.