Monster Beverage (NASDAQ:MNST) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of Monster Beverage (NASDAQ:MNST) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

A number of other research firms also recently weighed in on MNST. Zacks Investment Research downgraded shares of Monster Beverage from a hold rating to a sell rating in a research report on Tuesday, April 30th. Credit Suisse Group set a $77.00 price objective on Monster Beverage and gave the stock a buy rating in a research note on Friday, May 3rd. BidaskClub cut Monster Beverage from a hold rating to a sell rating in a research note on Friday, March 22nd. Citigroup restated a buy rating and set a $72.00 price objective on shares of Monster Beverage in a research note on Thursday, February 28th. Finally, UBS Group set a $53.00 price objective on Monster Beverage and gave the stock a sell rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $64.17.

MNST stock opened at $61.33 on Thursday. Monster Beverage has a twelve month low of $47.74 and a twelve month high of $66.38. The company has a market cap of $33.34 billion, a PE ratio of 32.45, a P/E/G ratio of 2.06 and a beta of 1.39.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. Monster Beverage had a net margin of 26.61% and a return on equity of 28.35%. The business had revenue of $946.00 million during the quarter, compared to the consensus estimate of $919.49 million. During the same quarter last year, the company earned $0.38 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts expect that Monster Beverage will post 2.09 EPS for the current fiscal year.

In other Monster Beverage news, Director Mark J. Hall sold 394,341 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $61.58, for a total value of $24,283,518.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Emelie Tirre sold 24,762 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $62.70, for a total value of $1,552,577.40. The disclosure for this sale can be found here. Insiders have sold 443,103 shares of company stock worth $27,415,776 over the last 90 days. 10.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of MNST. Oregon Public Employees Retirement Fund lifted its stake in Monster Beverage by 4,494.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock valued at $94,000 after buying an additional 4,519,673 shares during the last quarter. Norges Bank bought a new stake in Monster Beverage in the fourth quarter valued at $209,565,000. Man Group plc lifted its stake in Monster Beverage by 1,101.1% in the first quarter. Man Group plc now owns 4,164,813 shares of the company’s stock valued at $227,316,000 after buying an additional 3,818,054 shares during the last quarter. AQR Capital Management LLC lifted its stake in Monster Beverage by 394.5% in the first quarter. AQR Capital Management LLC now owns 3,450,064 shares of the company’s stock valued at $186,304,000 after buying an additional 2,752,324 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Monster Beverage by 55.0% in the first quarter. Renaissance Technologies LLC now owns 7,210,304 shares of the company’s stock valued at $393,538,000 after buying an additional 2,558,573 shares during the last quarter. Institutional investors own 66.72% of the company’s stock.

About Monster Beverage

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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