Inspire Investing LLC Grows Position in Monster Beverage Co. (NASDAQ:MNST)

Inspire Investing LLC raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 170.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,860 shares of the company’s stock after purchasing an additional 15,030 shares during the period. Inspire Investing LLC’s holdings in Monster Beverage were worth $1,192,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of Monster Beverage in the 2nd quarter worth $2,698,000. Seven Eight Capital LP grew its position in Monster Beverage by 976.1% during the second quarter. Seven Eight Capital LP now owns 75,351 shares of the company’s stock valued at $3,764,000 after acquiring an additional 68,349 shares during the period. Gardner Lewis Asset Management L P increased its stake in Monster Beverage by 11.5% during the second quarter. Gardner Lewis Asset Management L P now owns 41,668 shares of the company’s stock worth $2,081,000 after acquiring an additional 4,294 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in shares of Monster Beverage by 4.1% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 67,270 shares of the company’s stock worth $3,360,000 after purchasing an additional 2,627 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Monster Beverage by 19.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,545 shares of the company’s stock valued at $1,076,000 after purchasing an additional 3,544 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MNST. Morgan Stanley decreased their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. BMO Capital Markets lowered their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. TD Cowen reduced their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Roth Mkm decreased their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Truist Financial dropped their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Stock Down 1.0 %

Shares of NASDAQ:MNST opened at $51.83 on Friday. The firm has a market cap of $53.99 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The company has a fifty day simple moving average of $49.11 and a 200 day simple moving average of $52.32. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $0.39 EPS. Monster Beverage’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current fiscal 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.