Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Monster Beverage (NASDAQ:MNST) Stock Price

Monster Beverage (NASDAQ:MNST) had its price objective reduced by investment analysts at Deutsche Bank Aktiengesellschaft from $94.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 26.20% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Morgan Stanley restated an “overweight” rating and issued a $96.00 price target (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. Wells Fargo & Company lowered their price objective on shares of Monster Beverage from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Citigroup raised their target price on shares of Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 27th. Zacks Research cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Bank of America upped their price target on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, December 19th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.76.

Monster Beverage Price Performance

Monster Beverage stock traded down $0.52 during mid-day trading on Monday, reaching $71.31. The company had a trading volume of 2,289,887 shares, compared to its average volume of 6,162,369. The stock’s 50-day simple moving average is $79.56 and its 200-day simple moving average is $74.30. Monster Beverage has a 1 year low of $54.73 and a 1 year high of $87.38. The company has a market capitalization of $69.67 billion, a P/E ratio of 36.77, a P/E/G ratio of 2.32 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts forecast that Monster Beverage will post 1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Monster Beverage in the 4th quarter worth about $691,104,000. Massachusetts Financial Services Co. MA boosted its position in shares of Monster Beverage by 7,360.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock worth $474,695,000 after acquiring an additional 6,108,420 shares during the last quarter. AQR Capital Management LLC grew its holdings 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. Wellington Management Group LLP increased its position in Monster Beverage by 133.4% during the fourth quarter. Wellington Management Group LLP now owns 8,499,546 shares of the company’s stock worth $651,660,000 after purchasing an additional 4,858,109 shares during the last quarter. Finally, State Street Corp raised its stake in Monster Beverage by 8.0% during the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after purchasing an additional 2,789,273 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Company Profile

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.