Raymond James & Associates Raises Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Raymond James & Associates lifted its position in Monster Beverage Co. (NASDAQ:MNST) by 23.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,387,369 shares of the company’s stock after purchasing an additional 261,460 shares during the period. Raymond James & Associates owned 0.13% of Monster Beverage worth $72,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC bought a new position in shares of Monster Beverage during the 1st quarter worth $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage during the 2nd quarter valued at about $26,000. Kings Path Partners LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Monster Beverage in the 2nd quarter worth approximately $30,000. Finally, Crewe Advisors LLC bought a new position in shares of Monster Beverage during the first quarter valued at approximately $37,000. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on MNST shares. Truist Financial lowered their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Citigroup dropped their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BNP Paribas assumed coverage on shares of Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 target price for the company. Jefferies Financial Group lowered their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada reduced their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.68.

Monster Beverage Stock Performance

MNST opened at $53.77 on Tuesday. The firm has a 50 day moving average of $49.84 and a two-hundred day moving average of $51.09. The firm has a market capitalization of $56.01 billion, a PE ratio of 33.82, a P/E/G ratio of 2.29 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. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

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 analysts’ expectations of $2.01 billion. During the same period last year, the business earned $0.39 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current year.

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.