Envestnet Asset Management Inc. Grows Position in Monster Beverage Co. (NASDAQ:MNST)

Envestnet Asset Management Inc. grew its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,998,217 shares of the company’s stock after purchasing an additional 2,683 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Monster Beverage worth $99,811,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position 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 worth $94,378,000 after purchasing an additional 18,048 shares in the last quarter. Independent Advisor Alliance acquired a new stake in Monster Beverage in the 4th quarter valued at $291,000. Brown Advisory Inc. purchased a new stake in Monster Beverage in the 4th quarter worth $290,000. BI Asset Management Fondsmaeglerselskab A S raised its position in Monster Beverage by 97.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,426 shares of the company’s stock worth $2,559,000 after acquiring an additional 21,961 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in Monster Beverage by 29.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 13,855 shares of the company’s stock valued at $798,000 after purchasing an additional 3,187 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Up 0.6 %

Shares of MNST opened at $51.07 on Wednesday. The company’s 50-day moving average price is $49.03 and its 200 day moving average price is $52.32. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The firm has a market cap of $53.20 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. Monster Beverage’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, sell-side analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MNST. TD Cowen reduced their price target on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft decreased their target price on Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley decreased their price objective on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, Citigroup dropped their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $55.85.

Monster Beverage Profile

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.