Private Advisor Group LLC Reduces Stake in Monster Beverage Co. (NASDAQ:MNST)

Private Advisor Group LLC reduced its position in Monster Beverage Co. (NASDAQ:MNST) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,703 shares of the company’s stock after selling 1,827 shares during the period. Private Advisor Group LLC’s holdings in Monster Beverage were worth $871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Monster Beverage during the first quarter valued at about $26,000. Stephens Consulting LLC bought a new position in shares of Monster Beverage during the second quarter valued at approximately $26,000. Kings Path Partners LLC bought a new position in shares of Monster Beverage during the second quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. bought a new position in Monster Beverage in the second quarter worth approximately $30,000. Finally, Crewe Advisors LLC bought a new position in Monster Beverage in the first quarter worth approximately $37,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.7 %

Monster Beverage stock opened at $52.30 on Friday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year 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. The stock has a market cap of $51.23 billion, a PE ratio of 32.48, a P/E/G ratio of 2.39 and a beta of 0.74. The stock’s fifty day moving average is $50.98 and its two-hundred day moving average is $50.99.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business earned $0.39 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MNST has been the subject of a number of analyst reports. Evercore ISI lowered their target price on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. TD Cowen cut their price target on Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group dropped 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. Finally, Bank of America lifted their price objective on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.