Bank of New Hampshire Decreases Stake in Monster Beverage Co. (NASDAQ:MNST)

Bank of New Hampshire lessened its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 31.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 518 shares of the company’s stock after selling 240 shares during the quarter. Bank of New Hampshire’s holdings in Monster Beverage were worth $27,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MNST. LRI Investments LLC bought a new stake in Monster Beverage in the first quarter worth $26,000. Tortoise Investment Management LLC grew 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 worth $29,000 after buying an additional 396 shares in the last quarter. Stephens Consulting LLC bought a new stake in shares of Monster Beverage in the 2nd quarter worth about $26,000. Kings Path Partners LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at about $30,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Monster Beverage in the 2nd quarter valued at about $30,000. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Roth Mkm decreased their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company decreased their price target on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Piper Sandler reduced their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.84.

Monster Beverage Price Performance

Shares of MNST stock opened at $49.24 on Tuesday. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. 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 fifty day simple moving average of $49.36 and a two-hundred day simple moving average of $51.60. The stock has a market capitalization of $51.29 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 2.40 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, analysts predict 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.