Monster Beverage (NASDAQ:MNST) Price Target Raised to $75.00 at JPMorgan Chase & Co.

Monster Beverage (NASDAQ:MNST) had its price target lifted by JPMorgan Chase & Co. from $70.00 to $75.00 in a report published on Friday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 target price on shares of Monster Beverage in a report on Tuesday. Morgan Stanley raised their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Piper Sandler lifted their price objective on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen lowered Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Monster Beverage in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and an average price target of $69.41.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded up $3.42 during mid-day trading on Friday, hitting $69.73. The company had a trading volume of 14,099,119 shares, compared to its average volume of 5,954,324. The company has a market capitalization of $68.09 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. The business’s 50-day simple moving average is $66.59 and its 200 day simple moving average is $63.44. Monster Beverage has a 1-year low of $45.70 and a 1-year high of $72.62.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.Monster Beverage’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. On average, analysts expect that Monster Beverage will post 1.62 EPS for the current year.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Monster Beverage in the 2nd quarter valued at $544,584,000. Nuveen LLC purchased a new position in Monster Beverage during the 1st quarter worth $497,157,000. Schroder Investment Management Group grew its position in Monster Beverage by 4,877.8% during the 2nd quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock worth $456,262,000 after purchasing an additional 7,137,552 shares during the last quarter. AQR Capital Management LLC increased its stake in Monster Beverage by 467.0% in the second quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after purchasing an additional 5,641,160 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of Monster Beverage in the second quarter valued at about $157,063,000. 72.36% of the stock is owned by institutional investors and hedge funds.

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.