Northwestern Mutual Wealth Management Co. Sells 57,947 Shares of Monster Beverage Co. (NASDAQ:MNST)

Northwestern Mutual Wealth Management Co. decreased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 67.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,278 shares of the company’s stock after selling 57,947 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Monster Beverage were worth $1,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC bought a new position in shares of Monster Beverage during the 1st quarter worth $26,000. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at approximately $26,000. Tortoise Investment Management LLC raised its holdings in Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares during the period. Kings Path Partners LLC purchased a new stake in shares of Monster Beverage during the second quarter worth $30,000. Finally, Crewe Advisors LLC bought a new position in shares of Monster Beverage in the first quarter worth $37,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MNST has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price objective on Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, June 17th. Piper Sandler lowered their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Bank of America reduced their price objective on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. BNP Paribas began coverage on shares of Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $55.63.

Monster Beverage Stock Up 1.3 %

Shares of NASDAQ MNST opened at $50.95 on Friday. The stock has a market capitalization of $53.08 billion, a P/E ratio of 32.04, a PEG ratio of 2.40 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 one year low of $43.32 and a one year high of $61.22. The firm’s 50 day simple moving average is $49.36 and its two-hundred day simple moving average is $51.66.

Monster Beverage (NASDAQ:MNST) last posted its quarterly 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 return on equity of 22.23% and a net margin of 22.84%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts expect that Monster Beverage Co. will post 1.66 EPS for the current fiscal 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.