Argent Trust Co Has $224,000 Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Argent Trust Co boosted its holdings in Monster Beverage Co. (NASDAQ:MNST) by 28.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,477 shares of the company’s stock after purchasing an additional 982 shares during the period. Argent Trust Co’s holdings in Monster Beverage were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ninety One UK Ltd increased its position in shares of Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after acquiring an additional 3,620,436 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of 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 grew its stake in shares of Monster Beverage by 143.8% in the fourth 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 in the last quarter. AMF Tjanstepension AB acquired a new position in Monster Beverage during the second quarter worth $81,757,000. Finally, William Blair Investment Management LLC raised its position in Monster Beverage by 34.1% during the first 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 in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MNST. Morgan Stanley decreased their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Bank of America reduced their price target on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. UBS Group reduced their target price on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler dropped their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $51.18 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a market cap of $53.32 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.28 and a beta of 0.74. The stock has a fifty day moving average price of $49.11 and a 200-day moving average price of $52.27.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. As a group, equities analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

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.