Monster Beverage (NASDAQ:MNST) Price Target Cut to $49.00 by Analysts at JPMorgan Chase & Co.

Monster Beverage (NASDAQ:MNST - Free Report) had its target price cut by JPMorgan Chase & Co. from $50.00 to $49.00 in a research note released on Monday morning, Marketbeat reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on MNST. Truist Financial dropped their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a "sell" rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Monster Beverage from $63.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Roth Mkm cut their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Citigroup cut their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen dropped their price target on shares of Monster Beverage from $60.00 to $55.00 and set a "hold" rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Monster Beverage presently has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Monster Beverage Price Performance

NASDAQ MNST traded up $1.76 during trading on Monday, reaching $54.06. 8,449,365 shares of the company traded hands, compared to its average volume of 6,950,888. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The stock's 50 day moving average price is $51.12 and its two-hundred day moving average price is $50.97. The company has a market cap of $52.95 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 2.39 and a beta of 0.74. Monster Beverage has a 1-year low of $43.32 and a 1-year high of $61.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, analysts anticipate that Monster Beverage will post 1.66 EPS for the current year.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors have recently made changes to their positions in MNST. LRI Investments LLC acquired a new position in shares of Monster Beverage during the first quarter valued at about $26,000. Stephens Consulting LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter worth about $26,000. Kings Path Partners LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter worth about $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage in the 2nd quarter worth about $30,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Monster Beverage in the 1st quarter worth about $37,000. 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.