Czech National Bank Acquires 8,510 Shares of Monster Beverage Co. (NASDAQ:MNST)

Czech National Bank raised its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 143,671 shares of the company’s stock after buying an additional 8,510 shares during the period. Czech National Bank’s holdings in Monster Beverage were worth $7,495,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd grew its stake in shares of Monster Beverage by 2.3% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock worth $1,192,000 after acquiring an additional 532 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Monster Beverage by 156.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 114,100 shares of the company’s stock worth $6,764,000 after acquiring an additional 69,674 shares in the last quarter. Cim LLC bought a new position in shares of Monster Beverage during the 4th quarter worth approximately $16,114,000. Cetera Advisors LLC grew its stake in shares of Monster Beverage by 128.1% in the first quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after buying an additional 11,528 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new position in shares of Monster Beverage in the first quarter valued at $1,063,000. 72.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MNST. Citigroup decreased their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. TD Cowen decreased their target price 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. JPMorgan Chase & Co. decreased their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Roth Mkm reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Evercore ISI reduced their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average target price of $55.84.

Monster Beverage Stock Up 2.0 %

MNST opened at $50.77 on Friday. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The company has a market capitalization of $52.89 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.40 and a beta of 0.74. The stock has a fifty day moving average of $49.25 and a 200-day moving average of $51.44.

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 analysts’ consensus estimates of $0.45 by ($0.04). The firm 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 firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. On average, equities analysts expect 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.