Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 25.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,869 shares of the company’s stock after selling 967 shares during the quarter. Park Place Capital Corp’s holdings in Monster Beverage were worth $150,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MNST. Ninety One UK Ltd increased its holdings in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after acquiring an additional 3,620,436 shares in the last quarter. AMF Tjanstepension AB purchased a new stake in Monster Beverage during the 2nd quarter worth approximately $81,757,000. TD Asset Management Inc raised its holdings in shares of Monster Beverage by 41.1% during the first quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock valued at $268,465,000 after acquiring an additional 1,318,890 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of 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 valued at $288,082,000 after acquiring an additional 1,234,718 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after acquiring an additional 1,059,042 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $49.49 on Wednesday. The stock’s 50-day moving average is $49.32 and its two-hundred day moving average is $51.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The company has a market cap of $51.56 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. 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 earnings per share 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 analyst estimates 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 was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Morgan Stanley dropped their price target on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. BNP Paribas initiated coverage on Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 price objective on the stock. Finally, Jefferies Financial Group dropped their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.84.

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.