Commonwealth Equity Services LLC Buys 2,828 Shares of Monster Beverage Co. (NASDAQ:MNST)

Commonwealth Equity Services LLC increased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.0% in the second quarter, Holdings Channel.com reports. The fund owned 59,920 shares of the company’s stock after purchasing an additional 2,828 shares during the period. Commonwealth Equity Services LLC’s holdings in Monster Beverage were worth $2,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC raised its stake in Monster Beverage by 10.8% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 4,693 shares of the company’s stock valued at $270,000 after purchasing an additional 457 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Monster Beverage by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,638,263 shares of the company’s stock valued at $94,378,000 after purchasing an additional 18,048 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Monster Beverage by 14.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 59,680 shares of the company’s stock valued at $3,438,000 after purchasing an additional 7,391 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Monster Beverage by 5.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 801,809 shares of the company’s stock valued at $46,088,000 after purchasing an additional 38,428 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Monster Beverage by 77.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 409,203 shares of the company’s stock valued at $23,575,000 after purchasing an additional 178,526 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 1.4 %

Shares of Monster Beverage stock opened at $49.65 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The firm’s 50-day moving average is $48.95 and its two-hundred day moving average is $52.54. The stock has a market cap of $48.63 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.25 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MNST shares. Wells Fargo & Company reduced their target price on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group reduced their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Bank of America reduced their target price on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Truist Financial reduced their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Finally, Morgan Stanley reduced their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.85.

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.