Wealth Alliance Lowers Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Wealth Alliance trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,862 shares of the company’s stock after selling 1,255 shares during the quarter. Wealth Alliance’s holdings in Monster Beverage were worth $443,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MNST. Axxcess Wealth Management LLC raised its position in shares of Monster Beverage by 11.0% in the 2nd quarter. Axxcess Wealth Management LLC now owns 15,746 shares of the company’s stock worth $787,000 after acquiring an additional 1,558 shares in the last quarter. Virtu Financial LLC purchased a new position in Monster Beverage in the second quarter valued at about $1,115,000. Lmcg Investments LLC raised its holdings in Monster Beverage by 53.8% in the second quarter. Lmcg Investments LLC now owns 160,107 shares of the company’s stock worth $7,997,000 after purchasing an additional 56,000 shares in the last quarter. Savoir Faire Capital Management L.P. lifted its position in shares of Monster Beverage by 417.2% during the second quarter. Savoir Faire Capital Management L.P. now owns 118,148 shares of the company’s stock valued at $5,901,000 after buying an additional 95,303 shares during the last quarter. Finally, Montag & Caldwell LLC boosted its holdings in shares of Monster Beverage by 3.8% in the 2nd quarter. Montag & Caldwell LLC now owns 316,565 shares of the company’s stock valued at $15,812,000 after buying an additional 11,519 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MNST. JPMorgan Chase & Co. reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group decreased their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company lowered their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. UBS Group reduced their target price on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial lowered their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Price Performance

NASDAQ:MNST opened at $51.83 on Friday. The firm’s fifty day moving average is $49.11 and its two-hundred day moving average is $52.32. The firm has a market cap of $53.99 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 2.28 and a beta of 0.74. Monster Beverage Co. has a one year low of $43.32 and a one year 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 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. Research analysts expect 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.