Janney Montgomery Scott LLC Has $17.46 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Janney Montgomery Scott LLC decreased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 28.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 334,632 shares of the company’s stock after selling 135,058 shares during the period. Janney Montgomery Scott LLC’s holdings in Monster Beverage were worth $17,458,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of Monster Beverage in the 1st quarter worth about $26,000. Stephens Consulting LLC purchased a new position in shares of Monster Beverage during the second quarter valued at approximately $26,000. Kings Path Partners LLC bought a new stake in Monster Beverage during the second quarter worth $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Monster Beverage in the 2nd quarter valued at $30,000. Finally, Crewe Advisors LLC bought a new position in Monster Beverage during the 1st quarter valued at $37,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Performance

Shares of MNST opened at $54.11 on Wednesday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock’s 50-day simple moving average is $51.25 and its 200 day simple moving average is $50.97. 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 stock has a market capitalization of $53.00 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74.

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

Analyst Ratings Changes

MNST has been the subject of several recent analyst reports. Citigroup reduced 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. UBS Group lifted their target price on shares of Monster Beverage from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Evercore ISI decreased their target price on 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 given a hold rating and twelve 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 target price of $55.79.

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.