Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,760 shares of the company’s stock after selling 794 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Monster Beverage were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Ninety One UK Ltd grew its holdings in shares of Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after purchasing an additional 3,620,436 shares in the last quarter. AMF Tjanstepension AB acquired a new position in shares of Monster Beverage in the second quarter valued at approximately $81,757,000. TD Asset Management Inc grew its holdings in shares of Monster Beverage by 41.1% in the first quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock valued at $268,465,000 after purchasing an additional 1,318,890 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after purchasing an additional 1,234,718 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after purchasing an additional 1,059,042 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MNST shares. BMO Capital Markets dropped their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Truist Financial lowered their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Royal Bank of Canada lowered their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group lowered their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, BNP Paribas began coverage on shares of Monster Beverage in a report on Monday, June 24th. They set an “underperform” rating and a $48.00 price target for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.68.

Monster Beverage Stock Up 1.8 %

MNST stock opened at $53.58 on Thursday. The company has a fifty day moving average price of $49.35 and a 200 day moving average price of $51.19. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The company has a market cap of $55.82 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. Sell-side analysts expect 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.