Monster Beverage (NASDAQ:MNST) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Monster Beverage (NASDAQ:MNST) from a hold rating to a sell rating in a report published on Friday, BidAskClub reports.

A number of other analysts also recently commented on MNST. Cowen downgraded shares of Monster Beverage from an outperform rating to a market perform rating and cut their price objective for the company from $69.00 to $65.00 in a report on Thursday. BMO Capital Markets cut their price objective on shares of Monster Beverage from $62.00 to $61.00 and set a market perform rating for the company in a report on Thursday, August 8th. Morgan Stanley reiterated an equal weight rating and issued a $62.00 price objective (down previously from $67.00) on shares of Monster Beverage in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $69.00 to $67.00 and set a neutral rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Co cut their price objective on shares of Monster Beverage from $59.00 to $58.00 and set a market perform rating for the company in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $64.80.

Shares of Monster Beverage stock opened at $56.28 on Friday. The firm has a market capitalization of $30.82 billion, a PE ratio of 31.46, a P/E/G ratio of 1.95 and a beta of 1.19. Monster Beverage has a twelve month low of $47.74 and a twelve month high of $66.38. The firm’s 50-day moving average price is $57.47 and its 200 day moving average price is $60.08.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.03). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. On average, equities analysts anticipate that Monster Beverage will post 2.04 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in shares of Monster Beverage by 7,920.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock worth $580,817,000 after buying an additional 8,985,980 shares during the last quarter. Viking Global Investors LP acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $565,020,000. Renaissance Technologies LLC increased its holdings in shares of Monster Beverage by 19.6% during the 2nd quarter. Renaissance Technologies LLC now owns 8,624,004 shares of the company’s stock worth $550,470,000 after buying an additional 1,413,700 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Monster Beverage by 2.9% during the 2nd quarter. Invesco Ltd. now owns 6,799,956 shares of the company’s stock worth $434,043,000 after buying an additional 192,832 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Monster Beverage by 39.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,795,737 shares of the company’s stock worth $306,112,000 after buying an additional 1,345,673 shares during the last quarter. Institutional investors and hedge funds own 66.12% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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