Alaethes Wealth LLC Has $1.42 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

Alaethes Wealth LLC increased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,377 shares of the company’s stock after purchasing an additional 984 shares during the period. Alaethes Wealth LLC’s holdings in Monster Beverage were worth $1,417,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in Monster Beverage in the 1st quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new position in shares of Monster Beverage in the 4th quarter worth $27,000. Tortoise Investment Management LLC grew its position in Monster Beverage by 360.0% in 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 period. Stephens Consulting LLC bought a new stake in Monster Beverage during the 2nd quarter valued at $26,000. Finally, Kings Path Partners LLC bought a new stake in Monster Beverage during the 2nd quarter valued at $30,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Down 1.3 %

Shares of MNST opened at $51.18 on Friday. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The business has a 50-day moving average of $49.11 and a 200 day moving average of $52.27. The firm has a market cap of $53.32 billion, a P/E ratio of 32.19, a price-to-earnings-growth 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 (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion during 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 for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. As a group, research analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. 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 report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, August 8th. BNP Paribas started coverage on Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 target price on the stock. Jefferies Financial Group decreased their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $55.85.

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.