Monster Beverage (NASDAQ:MNST) Research Coverage Started at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Monster Beverage (NASDAQ:MNST) in a research report report published on Friday morning, Marketbeat.com reports. The brokerage issued a hold rating on the stock.

MNST has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Citigroup dropped their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group dropped their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial dropped their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Stock Down 1.6 %

Monster Beverage stock opened at $52.27 on Friday. The firm has a market cap of $50.83 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 2.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The firm has a fifty day moving average price of $53.25 and a two-hundred day moving average price of $51.03.

Institutional Investors Weigh In On Monster Beverage

Hedge funds have recently bought and sold shares of the company. Stephens Consulting LLC acquired a new stake in Monster Beverage in the second quarter worth $26,000. Kings Path Partners LLC acquired a new stake in shares of Monster Beverage during the second quarter worth $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage during the second quarter worth $30,000. Quarry LP raised its holdings in shares of Monster Beverage by 152.0% during the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after acquiring an additional 497 shares during the period. Finally, Crewe Advisors LLC raised its holdings in shares of Monster Beverage by 37.5% during the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.