Harmony Asset Management LLC Lowers Holdings in Monster Beverage Co. (NASDAQ:MNST)

Harmony Asset Management LLC reduced its position in Monster Beverage Co. (NASDAQ:MNST) by 66.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,688 shares of the company’s stock after selling 23,300 shares during the quarter. Harmony Asset Management LLC’s holdings in Monster Beverage were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MNST. Epoch Investment Partners Inc. boosted its stake in shares of Monster Beverage by 9.5% during the second quarter. Epoch Investment Partners Inc. now owns 3,174,103 shares of the company’s stock valued at $158,546,000 after purchasing an additional 275,209 shares in the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Monster Beverage by 351.4% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 31,701 shares of the company’s stock valued at $1,583,000 after acquiring an additional 24,678 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of Monster Beverage by 12,919.4% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,072 shares of the company’s stock worth $403,000 after acquiring an additional 8,010 shares in the last quarter. Alaethes Wealth LLC lifted its stake in shares of Monster Beverage by 3.6% during the 2nd quarter. Alaethes Wealth LLC now owns 28,377 shares of the company’s stock worth $1,417,000 after purchasing an additional 984 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Monster Beverage by 21.7% during the second quarter. Pacer Advisors Inc. now owns 121,150 shares of the company’s stock valued at $6,051,000 after purchasing an additional 21,572 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 1.3 %

Shares of NASDAQ MNST opened at $51.18 on Monday. The company has a 50 day simple moving average of $49.11 and a 200-day simple moving average of $52.19. The company has a market capitalization of $53.32 billion, a P/E ratio of 32.19, a P/E/G 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 Co. has a 1 year low of $43.32 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted 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 net margin of 22.84% and a return on equity of 22.23%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the business posted $0.39 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on MNST shares. UBS Group decreased their price target on shares of Monster Beverage from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus lowered their target price on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Royal Bank of Canada lowered their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group cut their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, BNP Paribas assumed coverage on Monster Beverage in a research report on Monday, June 24th. They issued an “underperform” rating and a $48.00 target price on the stock. Two equities research 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.com, the company has an average rating of “Moderate Buy” and an average price target 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.