Azzad Asset Management Inc. ADV Sells 872 Shares of Monster Beverage Co. (NASDAQ:MNST)

Azzad Asset Management Inc. ADV cut its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,290 shares of the company’s stock after selling 872 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Monster Beverage were worth $2,050,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MNST. Edmond DE Rothschild Holding S.A. lifted its holdings in Monster Beverage by 9.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock worth $124,000 after buying an additional 189 shares during the period. Journey Advisory Group LLC lifted its stake in shares of Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after purchasing an additional 196 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Monster Beverage by 5.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock valued at $256,000 after purchasing an additional 209 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after purchasing an additional 211 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in Monster Beverage by 1.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock worth $789,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MNST. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Evercore ISI dropped their price target on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group cut their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial lowered their price target 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. Finally, Citigroup cut their price objective on Monster Beverage from $60.00 to $54.00 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, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.84.

Monster Beverage Stock Performance

MNST opened at $49.24 on Tuesday. The company has a market cap of $51.29 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.40 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 firm’s fifty day simple moving average is $49.36 and its two-hundred day simple moving average is $51.60. 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 announced its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share 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.