Axxcess Wealth Management LLC Has $787,000 Stake in Monster Beverage Co. (NASDAQ:MNST)

Axxcess Wealth Management LLC grew its holdings in Monster Beverage Co. (NASDAQ:MNST) by 11.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,746 shares of the company’s stock after acquiring an additional 1,558 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Monster Beverage were worth $787,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MNST. LRI Investments LLC bought a new stake in Monster Beverage in the 1st quarter valued at $26,000. ICA Group Wealth Management LLC bought a new stake in shares of Monster Beverage in the fourth quarter valued at about $27,000. Tortoise Investment Management LLC boosted its position in shares of Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 396 shares during the period. Stephens Consulting LLC bought a new position in shares of Monster Beverage during the second quarter worth about $26,000. Finally, Kings Path Partners LLC bought a new position in shares of Monster Beverage during the second quarter worth about $30,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Evercore ISI decreased 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. Stifel Nicolaus cut their price target on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, June 17th. BNP Paribas began coverage on Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price objective for the company. Finally, Royal Bank of Canada dropped their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a 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, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

Monster Beverage Stock Performance

Shares of MNST stock opened at $51.83 on Friday. The company has a market capitalization of $53.99 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 2.28 and a beta of 0.74. 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 Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a 50-day simple moving average of $49.11 and a 200 day simple moving average of $52.32.

Monster Beverage (NASDAQ:MNST) last announced its 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). 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 for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the business posted $0.39 EPS. Monster Beverage’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that Monster Beverage Co. will post 1.66 earnings per share 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.