Skandinaviska Enskilda Banken AB publ Has $22.85 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 19.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 457,588 shares of the company’s stock after selling 108,218 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Monster Beverage were worth $22,852,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Monster Beverage during the first quarter worth $26,000. Stephens Consulting LLC bought a new position in Monster Beverage during the 2nd quarter worth about $26,000. ICA Group Wealth Management LLC bought a new position in Monster Beverage during the 4th quarter worth about $27,000. Tortoise Investment Management LLC raised its stake in shares of 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. Finally, Kings Path Partners LLC bought a new stake in shares of Monster Beverage in the second quarter valued at about $30,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MNST shares. JPMorgan Chase & Co. decreased their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. TD Cowen decreased their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a report on Monday, July 15th. BMO Capital Markets decreased their price objective 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. Royal Bank of Canada decreased their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.85.

Monster Beverage Stock Down 1.3 %

MNST opened at $51.18 on Friday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The stock’s fifty day simple moving average is $49.11 and its 200 day simple moving average is $52.27. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The stock has a market cap of $53.32 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. Monster Beverage’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, research analysts expect 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.