Toronto Dominion Bank Sells 224,838 Shares of Monster Beverage Co. (NASDAQ:MNST)

Toronto Dominion Bank trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 50.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,195 shares of the company’s stock after selling 224,838 shares during the quarter. Toronto Dominion Bank’s holdings in Monster Beverage were worth $10,849,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MNST. LRI Investments LLC acquired a new position in shares of Monster Beverage in the first quarter valued at about $26,000. Stephens Consulting LLC acquired a new position in shares of Monster Beverage during the 2nd quarter worth approximately $26,000. ICA Group Wealth Management LLC bought a new position in shares of Monster Beverage during the fourth quarter worth approximately $27,000. Tortoise Investment Management LLC raised its position in shares of Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after buying an additional 396 shares in the last quarter. Finally, Kings Path Partners LLC bought a new stake in shares of Monster Beverage in the second quarter valued at approximately $30,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $52.46 on Friday. The business has a 50 day moving average of $49.24 and a 200-day moving average of $52.09. The company has a market capitalization of $54.65 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.40 and a beta of 0.74. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. 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 (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 the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.39 EPS. On average, equities research analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Piper Sandler lowered their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note 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 note on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Jefferies Financial Group reduced their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.