Monster Beverage Co. (NASDAQ:MNST) Position Reduced by Tobam

Tobam trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 33.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,214 shares of the company’s stock after selling 1,112 shares during the period. Tobam’s holdings in Monster Beverage were worth $116,000 as of its most recent SEC filing.

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

Monster Beverage Trading Up 2.0 %

Shares of NASDAQ MNST opened at $50.77 on Friday. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The stock has a market cap of $49.73 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 2.29 and a beta of 0.74. 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’s fifty day moving average is $49.25 and its 200-day moving average is $51.44.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America lowered their price target on Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada lowered their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. BNP Paribas began coverage on Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 target price on the stock. Finally, UBS Group lifted their price objective on Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average price target of $55.84.

Monster Beverage 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.