Bleakley Financial Group LLC Sells 1,208 Shares of Monster Beverage Co. (NASDAQ:MNST)

Bleakley Financial Group LLC lowered its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,375 shares of the company’s stock after selling 1,208 shares during the quarter. Bleakley Financial Group LLC’s holdings in Monster Beverage were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ninety One UK Ltd grew its holdings in Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after purchasing an additional 3,620,436 shares during the last quarter. AMF Tjanstepension AB bought a new stake in shares of Monster Beverage during the 2nd quarter worth $81,757,000. TD Asset Management Inc grew its stake in Monster Beverage by 41.1% in the 1st quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock valued at $268,465,000 after buying an additional 1,318,890 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Monster Beverage by 34.1% in the 1st quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock worth $288,082,000 after acquiring an additional 1,234,718 shares during the period. Finally, Vanguard Group Inc. lifted its position in Monster Beverage by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after acquiring an additional 1,059,042 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.5 %

Shares of MNST stock opened at $53.77 on Tuesday. The company has a market capitalization of $56.01 billion, a P/E ratio of 33.82, a P/E/G ratio of 2.29 and a beta of 0.74. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $49.84 and a 200 day moving average price of $51.09.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MNST shares. Bank of America raised their price target on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Citigroup dropped their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets lowered their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Evercore ISI cut their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Jefferies Financial Group reduced their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.68.

Monster Beverage 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.