Carderock Capital Management Inc. Has $2.50 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

Carderock Capital Management Inc. increased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 26.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 47,838 shares of the company’s stock after purchasing an additional 9,962 shares during the period. Carderock Capital Management Inc.’s holdings in Monster Beverage were worth $2,496,000 at the end of the most recent quarter.

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

Monster Beverage Stock Performance

Shares of MNST stock opened at $53.58 on Thursday. The firm has a market capitalization 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. The business has a 50 day simple moving average of $49.35 and a 200 day simple moving average of $51.19. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MNST. Truist Financial lowered their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets cut their price target 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. Piper Sandler cut their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Bank of America lifted their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, UBS Group raised their price target on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.68.

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.