Pacer Advisors Inc. Increases Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Pacer Advisors Inc. increased its position in Monster Beverage Co. (NASDAQ:MNST) by 21.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,150 shares of the company’s stock after acquiring an additional 21,572 shares during the period. Pacer Advisors Inc.’s holdings in Monster Beverage were worth $6,051,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MNST. Brown Advisory Inc. purchased a new position in Monster Beverage in the 4th quarter worth approximately $290,000. Cambridge Investment Research Advisors Inc. grew its position in Monster Beverage by 1.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 27,185 shares of the company’s stock worth $1,566,000 after purchasing an additional 344 shares during the period. Commerce Bank grew its position in Monster Beverage by 2.5% in the 4th quarter. Commerce Bank now owns 30,458 shares of the company’s stock worth $1,755,000 after purchasing an additional 749 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Monster Beverage by 14.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 290,411 shares of the company’s stock worth $16,731,000 after purchasing an additional 37,594 shares during the period. Finally, United Services Automobile Association grew its position in Monster Beverage by 9.8% in the 4th quarter. United Services Automobile Association now owns 23,107 shares of the company’s stock worth $1,331,000 after purchasing an additional 2,066 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on MNST shares. Piper Sandler cut their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Truist Financial cut their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Citigroup cut their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Jefferies Financial Group cut their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Trading Up 2.2 %

Shares of MNST stock opened at $52.33 on Tuesday. The firm has a market capitalization of $54.51 billion, a PE ratio of 32.91, a PEG ratio of 2.28 and a beta of 0.74. The stock has a fifty day simple moving average of $49.16 and a two-hundred day simple moving average of $52.14. 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.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share 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 analysts’ expectations of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, analysts predict that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

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.