BidaskClub lowered shares of Monster Beverage (NASDAQ:MNST) from a strong-buy rating to a buy rating in a report released on Wednesday, BidAskClub reports.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Monster Beverage from a sell rating to a hold rating in a research note on Tuesday, May 7th. Wells Fargo & Co upped their price objective on shares of Monster Beverage from $56.00 to $60.00 and gave the stock a market perform rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. lowered their price objective on shares of Monster Beverage from $69.00 to $67.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group upped their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Finally, Credit Suisse Group set a $77.00 price objective on shares of Monster Beverage and gave the stock a buy rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $65.21.

NASDAQ:MNST opened at $57.18 on Wednesday. Monster Beverage has a 1-year low of $47.74 and a 1-year high of $66.38. The company has a 50-day moving average of $63.16 and a 200 day moving average of $60.50. The firm has a market cap of $30.57 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data 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). Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Monster Beverage will post 2.05 EPS for the current fiscal year.

In other Monster Beverage news, insider Guy Carling sold 24,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.82, for a total transaction of $1,579,680.00. Following the completion of the sale, the insider now directly owns 33,535 shares of the company’s stock, valued at $2,207,273.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its position in shares of Monster Beverage by 7,920.5% during the second quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock valued at $580,817,000 after buying an additional 8,985,980 shares during the last quarter. Viking Global Investors LP acquired a new position in shares of Monster Beverage during the second quarter valued at about $565,020,000. Renaissance Technologies LLC increased its holdings in shares of Monster Beverage by 19.6% during the second quarter. Renaissance Technologies LLC now owns 8,624,004 shares of the company’s stock valued at $550,470,000 after acquiring an additional 1,413,700 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Monster Beverage by 2.9% during the second quarter. Invesco Ltd. now owns 6,799,956 shares of the company’s stock valued at $434,043,000 after acquiring an additional 192,832 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Monster Beverage by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock valued at $262,159,000 after acquiring an additional 289,340 shares in the last quarter. 66.21% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Company Profile

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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