Legacy Financial Advisors Inc. Has $641,000 Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Legacy Financial Advisors Inc. reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,830 shares of the company’s stock after selling 420 shares during the period. Legacy Financial Advisors Inc.’s holdings in Monster Beverage were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. LRI Investments LLC acquired a new position in Monster Beverage in the first quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $27,000. Tortoise Investment Management LLC boosted its holdings 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 acquiring an additional 396 shares in the last quarter. Stephens Consulting LLC bought a new stake in Monster Beverage during the 2nd quarter worth approximately $26,000. Finally, Kings Path Partners LLC acquired a new stake in Monster Beverage during the 2nd quarter valued at $30,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MNST. Piper Sandler decreased their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lowered 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. Royal Bank of Canada reduced their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. TD Cowen lowered their price target on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.85.

Monster Beverage Price Performance

Monster Beverage stock opened at $51.18 on Friday. The firm has a market capitalization of $53.32 billion, a P/E ratio of 32.19, a PEG ratio of 2.28 and a beta of 0.74. The business has a 50-day moving average of $49.11 and a 200-day moving average of $52.23. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. On average, equities analysts anticipate that Monster Beverage Co. will post 1.66 EPS 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.