Great Diamond Partners LLC Sells 4,790 Shares of Monster Beverage Co. (NASDAQ:MNST)

Great Diamond Partners LLC reduced its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 39.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,363 shares of the company’s stock after selling 4,790 shares during the quarter. Great Diamond Partners LLC’s holdings in Monster Beverage were worth $384,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in Monster Beverage by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,652 shares of the company’s stock valued at $1,461,000 after purchasing an additional 516 shares during the last quarter. Azzad Asset Management Inc. ADV raised its stake in Monster Beverage by 0.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 40,380 shares of the company’s stock worth $2,394,000 after acquiring an additional 302 shares during the period. Lake Street Private Wealth LLC raised its stake in Monster Beverage by 26.3% during the 1st quarter. Lake Street Private Wealth LLC now owns 17,448 shares of the company’s stock worth $1,034,000 after acquiring an additional 3,634 shares during the period. Norden Group LLC bought a new stake in Monster Beverage during the 1st quarter worth approximately $2,231,000. Finally, Mainsail Financial Group LLC grew its holdings in Monster Beverage by 2.2% during the 1st quarter. Mainsail Financial Group LLC now owns 20,783 shares of the company’s stock valued at $1,232,000 after buying an additional 446 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Piper Sandler reduced their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Evercore ISI dropped their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, UBS Group upped their price objective on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Two 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.68.

Monster Beverage Trading Down 1.2 %

Shares of MNST stock opened at $52.48 on Wednesday. The company has a 50-day moving average of $50.63 and a two-hundred day moving average of $51.00. 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 Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The firm has a market cap of $54.67 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 2.43 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued 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). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Monster Beverage Co. will post 1.66 EPS 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.