Mutual of America Capital Management LLC Decreases Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Mutual of America Capital Management LLC lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 89,535 shares of the company’s stock after selling 7,376 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Monster Beverage were worth $4,472,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MNST. Brown Advisory Inc. purchased a new position in Monster Beverage in the 4th quarter valued at about $290,000. Corient Private Wealth LLC lifted its holdings in Monster Beverage by 19.4% in the 4th 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. Cambridge Investment Research Advisors Inc. boosted its stake in Monster Beverage by 1.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 27,185 shares of the company’s stock worth $1,566,000 after purchasing an additional 344 shares during the last quarter. Commerce Bank grew its holdings in shares of Monster Beverage by 2.5% during the fourth quarter. Commerce Bank now owns 30,458 shares of the company’s stock worth $1,755,000 after buying an additional 749 shares in the last quarter. Finally, TCW Group Inc. acquired a new stake in shares of Monster Beverage in the fourth quarter valued at about $706,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $51.18 on Friday. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a fifty day simple moving average of $49.11 and a two-hundred day simple moving average of $52.23. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The company has a market cap of $53.32 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MNST has been the subject of several research reports. TD Cowen dropped their price objective on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Wells Fargo & Company cut their price target on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Evercore ISI lowered their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup dropped their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their price objective on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Two 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. According to data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price 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.