JPMorgan Chase & Co. Boosts Monster Beverage (NASDAQ:MNST) Price Target to $79.00

Monster Beverage (NASDAQ:MNST) had its price target hoisted by JPMorgan Chase & Co. from $75.00 to $79.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 2.22% from the company’s previous close.

Several other equities analysts also recently issued reports on MNST. Roth Mkm reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Monster Beverage in a report on Wednesday, December 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $96.00 price target (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Argus boosted their price objective on Monster Beverage from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. UBS Group reissued a “neutral” rating and set a $84.00 target price (up previously from $75.00) on shares of Monster Beverage in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a research note on Monday, December 29th. Fourteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.90.

Monster Beverage Price Performance

Monster Beverage stock opened at $80.79 on Tuesday. The stock has a market capitalization of $78.93 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.45. The business has a 50 day simple moving average of $77.86 and a 200-day simple moving average of $70.57. Monster Beverage has a 12 month low of $47.32 and a 12 month high of $83.24.

Insider Activity

In other news, insider Emelie Tirre sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the transaction, the insider directly owned 63,939 shares in the company, valued at approximately $4,687,368.09. This represents a 31.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rodney C. Sacks sold 206,543 shares of Monster Beverage stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $73.58, for a total transaction of $15,197,433.94. The SEC filing for this sale provides additional information. 8.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of Monster Beverage by 397.9% in the 1st quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after buying an additional 12,148 shares during the period. Sivia Capital Partners LLC increased its stake in Monster Beverage by 247.7% during the second quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after purchasing an additional 9,251 shares during the period. Blair William & Co. IL lifted its position in shares of Monster Beverage by 2.1% during the second quarter. Blair William & Co. IL now owns 16,254 shares of the company’s stock worth $1,018,000 after purchasing an additional 342 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Monster Beverage by 11.9% in the second quarter. IFP Advisors Inc now owns 4,598 shares of the company’s stock valued at $288,000 after purchasing an additional 489 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Monster Beverage by 6.7% in the second quarter. Blue Trust Inc. now owns 3,293 shares of the company’s stock valued at $206,000 after purchasing an additional 207 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.