LPL Financial LLC Lowers Position in Monster Beverage Co. (NASDAQ:MNST)

LPL Financial LLC reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 726,429 shares of the company’s stock after selling 5,753 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Monster Beverage worth $36,285,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC purchased a new stake in Monster Beverage in the 1st quarter valued at $26,000. Stephens Consulting LLC purchased a new stake in Monster Beverage in the 2nd quarter valued at $26,000. ICA Group Wealth Management LLC purchased a new stake in Monster Beverage in the 4th quarter valued at $27,000. Tortoise Investment Management LLC increased its position in shares of Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at $30,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MNST. BNP Paribas began coverage on Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 target price for the company. Bank of America decreased their target price on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Jefferies Financial Group decreased their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on 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 analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Stock Up 1.8 %

Shares of NASDAQ MNST opened at $50.83 on Monday. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The business has a 50-day simple moving average of $48.99 and a two-hundred day simple moving average of $52.44. 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 company has a market cap of $49.79 billion, a P/E ratio of 31.97, a P/E/G ratio of 2.28 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). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. Research analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Monster Beverage 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.