Alaethes Wealth LLC Raises Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Alaethes Wealth LLC grew its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,377 shares of the company’s stock after purchasing an additional 984 shares during the period. Alaethes Wealth LLC’s holdings in Monster Beverage were worth $1,417,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. bought a new position in Monster Beverage in the 4th quarter worth about $290,000. Corient Private Wealth LLC raised its stake in Monster Beverage by 19.4% in the fourth quarter. Corient Private Wealth LLC now owns 233,086 shares of the company’s stock valued at $13,428,000 after purchasing an additional 37,814 shares in the last quarter. Aigen Investment Management LP bought a new stake in Monster Beverage during the fourth quarter valued at approximately $420,000. Cambridge Investment Research Advisors Inc. grew its stake in Monster Beverage by 1.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 27,185 shares of the company’s stock worth $1,566,000 after buying an additional 344 shares in the last quarter. Finally, Commerce Bank increased its holdings in shares of Monster Beverage by 2.5% in the 4th quarter. Commerce Bank now owns 30,458 shares of the company’s stock worth $1,755,000 after buying an additional 749 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $51.18 on Friday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The firm has a market cap of $53.32 billion, a P/E ratio of 32.19, a P/E/G ratio of 2.28 and a beta of 0.74. 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 50-day moving average of $49.11 and a 200-day moving average of $52.27.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. Monster Beverage’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts expect that Monster Beverage Co. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MNST shares. Truist Financial cut their target price 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. Stifel Nicolaus cut their price objective on Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, June 17th. Wells Fargo & Company reduced their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada dropped their target price 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. Finally, BNP Paribas began coverage on shares of Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Company 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.