Private Advisor Group LLC Decreases Holdings in Monster Beverage Co. (NASDAQ:MNST)

Private Advisor Group LLC trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 39.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,530 shares of the company’s stock after selling 12,260 shares during the period. Private Advisor Group LLC’s holdings in Monster Beverage were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Monster Beverage in the 4th quarter valued at about $517,035,000. Ninety One UK Ltd boosted its position in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after buying an additional 3,620,436 shares during the last quarter. Capital Research Global Investors boosted its position in Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after buying an additional 3,026,657 shares during the last quarter. TD Asset Management Inc boosted its position in Monster Beverage by 143.8% in the 4th quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock valued at $184,921,000 after buying an additional 1,893,064 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at about $81,757,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent analyst reports. Bank of America cut their target price on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. BMO Capital Markets cut their target price 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. JPMorgan Chase & Co. cut their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Jefferies Financial Group cut their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Trading Down 0.2 %

NASDAQ:MNST opened at $50.75 on Tuesday. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The business has a fifty day moving average of $49.00 and a 200-day moving average of $52.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The stock has a market cap of $52.87 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced 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). 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 the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current 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.