Monster Beverage (NASDAQ:MNST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Monster Beverage surpassed the industry in the past six months, driven by solid momentum in energy drinks business amid a challenging industry backdrop. The company is also optimistic about its alliance with Coca-Cola’s bottlers globally, which broadened its distribution network. Moreover, the company’s top and bottom lines outpaced estimates and improved year over year in third-quarter 2018. This marked its second straight earnings beat, while sales reverted to positive surprise trend after three consecutive misses. The top line benefited from solid sales at Monster Energy Drinks segment and advance purchases made by customers due to a pre-announced price hike. However, sales were adversely impacted by foreign currency translations. Moreover, increased raw material costs are persistently hurting margins, which is likely to continue in quarters ahead.”

MNST has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price target on Monster Beverage from $64.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 24th. Goldman Sachs Group upgraded Monster Beverage from a “buy” rating to a “conviction-buy” rating in a research note on Friday, November 9th. BidaskClub downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. Jefferies Financial Group restated a “buy” rating and set a $71.00 price target on shares of Monster Beverage in a research note on Thursday, November 8th. Finally, ValuEngine downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.38.

NASDAQ MNST opened at $58.27 on Wednesday. Monster Beverage has a one year low of $47.61 and a one year high of $70.21. The stock has a market capitalization of $31.98 billion, a P/E ratio of 39.91, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $988.73 million. Monster Beverage had a return on equity of 25.47% and a net margin of 25.86%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. On average, analysts predict that Monster Beverage will post 1.77 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in MNST. Alliancebernstein L.P. grew its stake in shares of Monster Beverage by 47.2% during the 3rd quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock valued at $720,297,000 after acquiring an additional 3,961,104 shares during the period. Janus Henderson Group PLC grew its stake in shares of Monster Beverage by 414.7% during the 2nd quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock valued at $245,188,000 after acquiring an additional 3,447,585 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Monster Beverage by 101,575.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,985,729 shares of the company’s stock valued at $115,727,000 after acquiring an additional 1,983,776 shares during the period. Voya Investment Management LLC grew its stake in shares of Monster Beverage by 24.4% during the 2nd quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock valued at $313,346,000 after acquiring an additional 1,071,066 shares during the period. Finally, Capital World Investors bought a new position in shares of Monster Beverage during the 3rd quarter valued at approximately $62,068,000. Institutional investors own 64.23% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its 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 drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes 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; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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