Allworth Financial LP Grows Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Allworth Financial LP grew its stake in Monster Beverage Co. (NASDAQ:MNST) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,228 shares of the company’s stock after buying an additional 644 shares during the quarter. Allworth Financial LP’s holdings in Monster Beverage were worth $221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ninety One UK Ltd increased its holdings in Monster Beverage by 93.9% in the second 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after purchasing an additional 2,388,798 shares in the last quarter. AMF Tjanstepension AB acquired a new position in Monster Beverage in the 2nd quarter worth about $81,757,000. TD Asset Management Inc boosted its position in Monster Beverage by 41.1% during the first quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock worth $268,465,000 after purchasing an additional 1,318,890 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings 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 during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.2 %

Shares of MNST stock opened at $52.60 on Thursday. 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 twelve month low of $43.32 and a twelve month high of $61.22. The company’s 50-day moving average price is $50.75 and its 200-day moving average price is $51.01. The stock has a market cap of $54.79 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.43 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler reduced their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price objective on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. 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. Finally, Roth Mkm lowered their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two investment 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 MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average price target of $55.68.

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.