Monster Beverage (NASDAQ:MNST) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Monster Beverage (NASDAQ:MNST) has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen.
• Analysts have mixed views on the stock, with a consensus rating of "hold" and an average price target of $65.10 among twelve analysts.
• Monster Beverage reported a quarterly earnings per share of $0.52, exceeding expectations, and witnessed an 11.1% year-over-year revenue growth.

Monster Beverage (NASDAQ:MNST - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Several other analysts also recently commented on MNST. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price for the company. in a report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Morgan Stanley upped their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. TD Cowen upped their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Finally, Citigroup upped their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.10.

Monster Beverage Price Performance

NASDAQ:MNST opened at $62.46 on Friday. The firm has a 50-day moving average of $61.62 and a 200-day moving average of $60.05. The company has a market cap of $60.99 billion, a PE ratio of 38.80, a PEG ratio of 2.21 and a beta of 0.54. Monster Beverage has a one year low of $45.70 and a one year high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, equities research analysts expect that Monster Beverage will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monster Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Access Investment Management LLC bought a new position in Monster Beverage in the 2nd quarter worth approximately $25,000. Salomon & Ludwin LLC bought a new position in Monster Beverage in the 2nd quarter worth approximately $28,000. Newbridge Financial Services Group Inc. boosted its holdings in Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company's stock valued at $28,000 after purchasing an additional 415 shares during the period. Wayfinding Financial LLC bought a new position in Monster Beverage in the 1st quarter valued at $29,000. Finally, Golden State Wealth Management LLC boosted its holdings in Monster Beverage by 647.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 553 shares of the company's stock valued at $35,000 after purchasing an additional 479 shares during the period. Institutional investors 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.

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