Monster Beverage Co. (NASDAQ:MNST) Stock Holdings Lowered by Lmcg Investments LLC

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dai ichi Life Insurance Company Ltd raised its stake in 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 purchasing an additional 532 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Monster Beverage by 156.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 114,100 shares of the company’s stock worth $6,764,000 after acquiring an additional 69,674 shares during the period. Cetera Advisors LLC raised its holdings in Monster Beverage by 128.1% in the 1st quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock worth $1,217,000 after acquiring an additional 11,528 shares during the period. Avantax Advisory Services Inc. bought a new position in Monster Beverage in the 1st quarter worth $1,063,000. Finally, Swedbank AB raised its holdings in Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after acquiring an additional 22,823 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial dropped their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. BMO Capital Markets dropped their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report 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. Jefferies Financial Group dropped their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.68.

Monster Beverage Price Performance

NASDAQ:MNST traded down $0.38 on Friday, reaching $52.30. The stock had a trading volume of 6,325,111 shares, compared to its average volume of 6,942,626. The company has a market capitalization of $51.23 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. 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 stock has a fifty day moving average price of $50.98 and a 200-day moving average price of $51.01.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The firm had revenue of $1.90 billion during 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%. Monster Beverage’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. Research analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current year.

Monster Beverage Company 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.