JPMorgan Chase & Co. Lowers Monster Beverage (NASDAQ:MNST) Price Target to $51.00

Monster Beverage (NASDAQ:MNST) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $52.00 to $51.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.99% from the company’s current price.

Other equities analysts have also issued reports about the company. TD Cowen raised their price target on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. BNP Paribas cut their target price on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus lifted their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Argus increased their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Bank of America boosted their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.53.

Monster Beverage Stock Performance

NASDAQ MNST opened at $49.52 on Wednesday. The firm has a market cap of $48.16 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.96 and a beta of 0.74. The company has a 50-day simple moving average of $50.47 and a two-hundred day simple moving average of $51.00. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $61.22.

Insider Buying and Selling

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the completion of the transaction, the chief financial officer now owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. This trade represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co grew its holdings in Monster Beverage by 3.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 623,853 shares of the company’s stock worth $32,772,000 after purchasing an additional 18,778 shares during the period. Champlain Investment Partners LLC bought a new stake in shares of Monster Beverage in the 4th quarter worth approximately $121,575,000. Canada Pension Plan Investment Board grew its stake in shares of Monster Beverage by 9.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,588,690 shares of the company’s stock worth $83,502,000 after buying an additional 138,788 shares during the last quarter. Marshall Wace LLP increased its position in Monster Beverage by 27.2% during the 4th quarter. Marshall Wace LLP now owns 114,094 shares of the company’s stock valued at $5,997,000 after buying an additional 24,396 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Monster Beverage by 29.5% during the fourth quarter. NewEdge Advisors LLC now owns 28,702 shares of the company’s stock valued at $1,509,000 after buying an additional 6,538 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

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.