Monster Beverage (NASDAQ:MNST) Downgraded by UBS to “Neutral”

UBS cut shares of Monster Beverage (NASDAQ:MNST) to a neutral rating in a research note issued to investors on Monday, November 20th, The Fly reports.

MNST has been the subject of a number of other reports. Credit Suisse Group cut Monster Beverage to a hold rating in a report on Friday, September 8th. Macquarie assumed coverage on Monster Beverage in a report on Thursday, September 14th. They set an outperform rating and a $65.00 target price for the company. BMO Capital Markets restated a buy rating and set a $58.00 target price on shares of Monster Beverage in a report on Wednesday, September 6th. Citigroup set a $60.00 target price on Monster Beverage and gave the company a buy rating in a report on Wednesday, October 18th. Finally, Cowen restated a buy rating and set a $58.00 target price on shares of Monster Beverage in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $59.24.

Monster Beverage (NASDAQ MNST) traded down $0.97 during midday trading on Monday, reaching $62.30. The company had a trading volume of 2,356,220 shares, compared to its average volume of 2,209,792. Monster Beverage has a 1 year low of $41.02 and a 1 year high of $63.54. The firm has a market cap of $35,557.89, a P/E ratio of 42.89, a P/E/G ratio of 2.25 and a beta of 0.94.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $909.50 million during the quarter, compared to analysts’ expectations of $903.82 million. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. equities analysts predict that Monster Beverage will post 1.48 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Monster Beverage by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock worth $1,412,547,000 after acquiring an additional 771,913 shares in the last quarter. BlackRock Inc. increased its position in Monster Beverage by 1.7% during the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after buying an additional 376,666 shares during the period. Jennison Associates LLC increased its position in Monster Beverage by 0.6% during the third quarter. Jennison Associates LLC now owns 12,053,475 shares of the company’s stock worth $665,955,000 after buying an additional 68,041 shares during the period. Alliancebernstein L.P. increased its position in Monster Beverage by 7.5% during the second quarter. Alliancebernstein L.P. now owns 6,679,727 shares of the company’s stock worth $331,849,000 after buying an additional 463,345 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Monster Beverage by 19.7% during the third quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock worth $338,810,000 after buying an additional 1,008,607 shares during the period. 65.88% of the stock is currently owned by institutional investors and hedge funds.

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About Monster Beverage

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

The Fly

Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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