JPMorgan Chase & Co. Issues Pessimistic Forecast for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $52.00 to $51.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.53% from the company’s previous close.

A number of other equities analysts also recently issued reports on MNST. BNP Paribas cut their target price on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Thursday, December 19th. Needham & Company LLC assumed coverage on shares of Monster Beverage in a research report on Friday, December 6th. They set a “hold” rating on the stock. Stifel Nicolaus increased their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, TD Cowen lifted their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.53.

Monster Beverage Stock Performance

Shares of MNST stock traded down $0.19 during mid-day trading on Wednesday, hitting $47.87. 291,400 shares of the stock were exchanged, compared to its average volume of 6,155,529. The stock has a market capitalization of $46.56 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.96 and a beta of 0.74. The stock’s fifty day simple moving average is $50.58 and its two-hundred day simple moving average is $51.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $61.22.

Insider Transactions at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 74,924 shares in the company, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Several institutional investors have recently bought and sold shares of MNST. Livforsakringsbolaget Skandia Omsesidigt raised its position in Monster Beverage by 222.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,884 shares of the company’s stock valued at $98,000 after purchasing an additional 1,300 shares during the period. CX Institutional boosted its stake in shares of Monster Beverage by 28.9% in the third quarter. CX Institutional now owns 6,388 shares of the company’s stock valued at $333,000 after purchasing an additional 1,434 shares during the period. Creative Planning increased its stake in Monster Beverage by 12.8% during the 3rd quarter. Creative Planning now owns 90,773 shares of the company’s stock worth $4,736,000 after buying an additional 10,284 shares during the period. McKinley Carter Wealth Services Inc. boosted its position in Monster Beverage by 1.3% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 99,335 shares of the company’s stock valued at $5,182,000 after buying an additional 1,312 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Monster Beverage by 1.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 87,959 shares of the company’s stock valued at $4,589,000 after buying an additional 1,260 shares during the last quarter. 72.36% of the stock is currently 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.