Lmcg Investments LLC Cuts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Lmcg Investments LLC lessened its holdings in Monster Beverage Co. (NASDAQ:MNST) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 157,822 shares of the company’s stock after selling 2,285 shares during the period. Lmcg Investments LLC’s holdings in Monster Beverage were worth $8,234,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MNST. Wealth Enhancement Advisory Services LLC raised its stake in shares of Monster Beverage by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,652 shares of the company’s stock valued at $1,461,000 after acquiring an additional 516 shares during the period. Norden Group LLC purchased a new stake in Monster Beverage during the 1st quarter worth $2,231,000. Ashton Thomas Private Wealth LLC increased its stake in Monster Beverage by 1.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock worth $789,000 after buying an additional 226 shares during the period. Janney Montgomery Scott LLC increased its stake in Monster Beverage by 2.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 420,399 shares of the company’s stock worth $24,921,000 after buying an additional 11,196 shares during the period. Finally, Resonant Capital Advisors LLC purchased a new stake in Monster Beverage during the 1st quarter worth $311,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MNST. BMO Capital Markets dropped their price target on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group dropped their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Piper Sandler dropped their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.68.

Monster Beverage Price Performance

Shares of NASDAQ:MNST traded down $0.38 during trading on Friday, reaching $52.30. The company had a trading volume of 6,325,111 shares, compared to its average volume of 6,942,626. The firm’s fifty day moving average is $50.98 and its 200 day moving average is $51.01. The firm has a market capitalization of $51.23 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41.

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