Global Retirement Partners LLC Sells 2,070 Shares of Monster Beverage Co. (NASDAQ:MNST)

Global Retirement Partners LLC lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 13.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,710 shares of the company’s stock after selling 2,070 shares during the period. Global Retirement Partners LLC’s holdings in Monster Beverage were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MNST. Vanguard Group Inc. raised its stake in Monster Beverage by 1.7% in the 1st 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 during the period. Clearbridge Investments LLC raised its stake in Monster Beverage by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock valued at $691,182,000 after acquiring an additional 37,391 shares during the period. Janus Henderson Group PLC raised its stake in Monster Beverage by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after acquiring an additional 440,962 shares during the period. Ninety One UK Ltd raised its stake 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 valued at $373,519,000 after acquiring an additional 3,620,436 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Monster Beverage by 34.1% in the 1st 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 during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $54.05 on Monday. 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 Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a market cap of $56.31 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.29 and a beta of 0.74. The business has a fifty day simple moving average of $49.68 and a 200 day simple moving average of $51.10.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 EPS 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 the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. Monster Beverage’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 business posted $0.39 earnings per share. On average, sell-side analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on MNST shares. Wells Fargo & Company decreased their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group decreased their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Citigroup decreased 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. Finally, Roth Mkm decreased their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.68.

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.