Atomi Financial Group Inc. Has $427,000 Position in Monster Beverage Co. (NASDAQ:MNST)

Atomi Financial Group Inc. lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 9.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,179 shares of the company’s stock after selling 824 shares during the period. Atomi Financial Group Inc.’s holdings in Monster Beverage were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in shares of Monster Beverage in the 1st quarter valued at $26,000. Stephens Consulting LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $26,000. Tortoise Investment Management LLC lifted its stake in shares of Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $30,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MNST shares. Bank of America reduced their price objective on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. 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 note on Thursday, August 8th. BNP Paribas started coverage on shares of Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 price objective for the company. Stifel Nicolaus cut their target price on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Finally, BMO Capital Markets cut their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.84.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $51.31 on Friday. The firm’s 50-day moving average is $49.23 and its 200-day moving average is $51.38. Monster Beverage Co. has a 52-week low of $43.32 and a 52-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 cap of $50.26 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.29 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted 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 for the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. 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 posted $0.39 EPS. Equities research analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share 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.