ProShare Advisors LLC Sells 115,666 Shares of Monster Beverage Co. (NASDAQ:MNST)

ProShare Advisors LLC trimmed its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,005,897 shares of the company’s stock after selling 115,666 shares during the quarter. ProShare Advisors LLC owned approximately 0.10% of Monster Beverage worth $50,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in MNST. Ninety One UK Ltd increased its holdings in Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after purchasing an additional 3,620,436 shares in the last quarter. Capital Research Global Investors increased its holdings 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 purchasing an additional 3,026,657 shares in the last quarter. TD Asset Management Inc increased its holdings in Monster Beverage by 143.8% in the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after purchasing an additional 1,893,064 shares in the last quarter. AMF Tjanstepension AB bought a new stake in Monster Beverage in the second quarter worth approximately $81,757,000. Finally, William Blair Investment Management LLC increased its holdings in Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock worth $288,082,000 after purchasing an additional 1,234,718 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $51.18 on Monday. 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 52-week low of $43.32 and a 52-week high of $61.22. The firm 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 business’s fifty day moving average is $49.11 and its 200 day moving average is $52.19.

Monster Beverage (NASDAQ:MNST) last released 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). 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 for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts predict that Monster Beverage Co. will post 1.66 EPS for the current year.

Wall Street Analyst Weigh In

MNST has been the subject of a number of research analyst reports. Roth Mkm lowered their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Bank of America reduced their price objective on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Evercore ISI reduced their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus reduced their price objective on Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.85.

Monster Beverage Company 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.