Profund Advisors LLC Sells 1,398 Shares of Monster Beverage Co. (NASDAQ:MNST)

Profund Advisors LLC trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,740 shares of the company’s stock after selling 1,398 shares during the period. Profund Advisors LLC’s holdings in Monster Beverage were worth $4,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC purchased a new stake in Monster Beverage in the 1st quarter worth $26,000. ICA Group Wealth Management LLC bought a new position in shares of Monster Beverage in the fourth quarter worth about $27,000. Tortoise Investment Management LLC grew 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 purchasing an additional 396 shares in the last quarter. Stephens Consulting LLC bought a new stake in Monster Beverage during the 2nd quarter valued at approximately $26,000. Finally, Kings Path Partners LLC purchased a new position in Monster Beverage in the 2nd quarter worth approximately $30,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Monster Beverage stock 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 company’s 50-day moving average is $49.11 and its 200 day moving average is $52.23. The firm has a market capitalization 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 current ratio of 3.41 and a quick ratio of 2.69.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business posted $0.39 earnings per share. Monster Beverage’s revenue was up 2.4% on a year-over-year basis. Research analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial decreased their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Citigroup cut their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler decreased their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI cut their price target 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 assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.85.

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.