Elgethun Capital Management Decreases Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Elgethun Capital Management lessened its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 49.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,360 shares of the company’s stock after selling 3,300 shares during the quarter. Elgethun Capital Management’s holdings in Monster Beverage were worth $168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MNST. Employees Retirement System of Texas purchased a new stake in Monster Beverage in the second quarter worth $34,850,000. AQR Capital Management LLC increased its stake in shares of Monster Beverage by 8.8% during the second quarter. AQR Capital Management LLC now owns 1,142,807 shares of the company’s stock valued at $57,083,000 after buying an additional 92,638 shares during the period. AXA S.A. grew its stake in Monster Beverage by 0.3% in the second quarter. AXA S.A. now owns 580,913 shares of the company’s stock valued at $29,017,000 after purchasing an additional 1,528 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in Monster Beverage by 47.1% in the second quarter. Insigneo Advisory Services LLC now owns 10,593 shares of the company’s stock valued at $535,000 after purchasing an additional 3,394 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Monster Beverage by 51.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 141,405 shares of the company’s stock valued at $7,063,000 after purchasing an additional 48,253 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BNP Paribas began coverage on Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target for the company. Citigroup reduced their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. TD Cowen reduced their price target on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, July 15th. Jefferies Financial Group reduced their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price target on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Stock Down 1.5 %

Shares of MNST opened at $51.67 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The stock has a market capitalization of $50.61 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 2.40 and a beta of 0.74. The stock has a 50 day moving average price of $49.20 and a 200 day moving average price of $52.09.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data 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). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. Equities research analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal 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.