JPMorgan Chase & Co. Trims Monster Beverage (NASDAQ:MNST) Target Price to $56.00

Monster Beverage (NASDAQ:MNST) had its target price trimmed by JPMorgan Chase & Co. from $59.00 to $56.00 in a research note published on Tuesday morning, MarketBeat reports. The firm currently has a neutral rating on the stock.

Several other research firms also recently weighed in on MNST. Roth Mkm lowered their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a neutral rating on the stock in a report on Wednesday, June 12th. Truist Financial downgraded shares of Monster Beverage from a buy rating to a sell rating and lowered their target price for the company from $65.00 to $46.00 in a report on Thursday, April 25th. Piper Sandler increased their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the company a neutral rating in a report on Friday, May 3rd. TD Cowen lowered their target price on shares of Monster Beverage from $60.00 to $55.00 and set a hold rating for the company in a report on Monday, July 15th. Finally, Stifel Nicolaus lowered their target price on shares of Monster Beverage from $63.00 to $57.00 and set a buy rating for the company in a report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $59.33.

Monster Beverage Trading Up 1.8 %

MNST opened at $51.00 on Tuesday. The company’s fifty day moving average price is $50.64 and its two-hundred day moving average price is $54.40. Monster Beverage has a 1-year low of $47.13 and a 1-year high of $61.22. The company has a market cap of $53.13 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.02 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities analysts forecast that Monster Beverage will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock worth $16,070,374 over the last quarter. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monster Beverage

A number of large investors have recently modified their holdings of MNST. LRI Investments LLC bought a new position in shares of Monster Beverage in the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $27,000. Tortoise Investment Management LLC boosted its position in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares during the period. Crewe Advisors LLC bought a new position in shares of Monster Beverage in the first quarter valued at approximately $37,000. Finally, Rise Advisors LLC boosted its position in shares of Monster Beverage by 187.6% in the first quarter. Rise Advisors LLC now owns 716 shares of the company’s stock valued at $42,000 after acquiring an additional 467 shares during the period. 72.36% of the stock is currently owned by institutional investors.

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.