Frank Rimerman Advisors LLC Purchases 8,010 Shares of Monster Beverage Co. (NASDAQ:MNST)

Frank Rimerman Advisors LLC raised its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 12,919.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,072 shares of the company’s stock after acquiring an additional 8,010 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Monster Beverage were worth $403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ninety One UK Ltd increased its stake in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after buying an additional 3,620,436 shares during the last quarter. Capital Research Global Investors increased its position in shares of Monster Beverage by 40.6% in the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after acquiring an additional 3,026,657 shares during the last quarter. TD Asset Management Inc raised its holdings in Monster Beverage by 143.8% during the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after acquiring an additional 1,893,064 shares in the last quarter. AMF Tjanstepension AB acquired a new position in Monster Beverage during the second quarter valued at approximately $81,757,000. Finally, William Blair Investment Management LLC grew its stake in Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after purchasing an additional 1,234,718 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $52.45 on Wednesday. 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 stock has a market capitalization of $54.64 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The company’s 50 day simple moving average is $49.20 and its 200 day simple moving average is $52.09.

Monster Beverage (NASDAQ:MNST) last issued its earnings results 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 net margin of 22.84% and a return on equity of 22.23%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MNST shares. Roth Mkm cut their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Royal Bank of Canada lowered their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Piper Sandler cut their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets lowered their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI cut their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.