Mutual of America Capital Management LLC Trims Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Mutual of America Capital Management LLC decreased its position in Monster Beverage Co. (NASDAQ:MNST) by 7.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,535 shares of the company’s stock after selling 7,376 shares during the period. Mutual of America Capital Management LLC’s holdings in Monster Beverage were worth $4,472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MNST. Ninety One UK Ltd lifted its holdings in shares of Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after buying an additional 3,620,436 shares during the period. Capital Research Global Investors lifted its stake in Monster Beverage by 40.6% in the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock worth $603,659,000 after acquiring an additional 3,026,657 shares during the period. TD Asset Management Inc grew its holdings in Monster Beverage by 143.8% during the 4th quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after acquiring an additional 1,893,064 shares in the last quarter. AMF Tjanstepension AB purchased a new position in Monster Beverage during the 2nd quarter valued at about $81,757,000. Finally, William Blair Investment Management LLC raised its holdings in shares of 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 valued at $288,082,000 after purchasing an additional 1,234,718 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 1.3 %

Shares of MNST opened at $51.18 on Friday. The company has a market capitalization of $53.32 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.28 and a beta of 0.74. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The stock’s 50-day moving average price is $49.11 and its 200-day moving average price is $52.23. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned $0.39 EPS. Monster Beverage’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Monster Beverage Co. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MNST shares. UBS Group cut their price objective on shares of Monster Beverage from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reduced their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America dropped their price objective on Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Citigroup reduced their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.85.

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.