50,400 Shares in Monster Beverage Co. (NASDAQ:MNST) Bought by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC acquired a new position in shares of Monster Beverage Co. (NASDAQ:MNST) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,400 shares of the company’s stock, valued at approximately $2,671,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in Monster Beverage during the first quarter worth $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage during the second quarter worth $26,000. ICA Group Wealth Management LLC purchased a new position in Monster Beverage during the fourth quarter worth $27,000. Tortoise Investment Management LLC increased its position in Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 396 shares in the last quarter. Finally, Kings Path Partners LLC purchased a new stake in shares of Monster Beverage in the second quarter valued at $30,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Down 0.6 %

Shares of MNST opened at $52.17 on Tuesday. The stock’s 50-day moving average is $49.31 and its two-hundred day moving average is $51.86. The stock has a market cap of $54.35 billion, a PE ratio of 32.81, a P/E/G ratio of 2.40 and a beta of 0.74. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69.

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). The company 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 revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. Equities analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial lowered their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. BMO Capital Markets lowered their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. TD Cowen lowered their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. lowered their price objective on 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, Roth Mkm lowered their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target 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.