Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Montag & Caldwell LLC

Montag & Caldwell LLC lifted its holdings in Monster Beverage Co. (NASDAQ:MNST) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,565 shares of the company’s stock after acquiring an additional 11,519 shares during the quarter. Monster Beverage makes up approximately 3.2% of Montag & Caldwell LLC’s holdings, making the stock its 10th largest holding. Montag & Caldwell LLC’s holdings in Monster Beverage were worth $15,812,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Monster Beverage during the fourth quarter worth approximately $517,035,000. Ninety One UK Ltd boosted its position 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 buying an additional 3,620,436 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after buying an additional 3,026,657 shares during the period. TD Asset Management Inc raised its position in shares of Monster Beverage by 143.8% during the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after acquiring an additional 1,893,064 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new position in shares of Monster Beverage during the second quarter valued at $81,757,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on MNST shares. Citigroup dropped their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Morgan Stanley dropped their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced 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 note on Thursday, August 8th. Evercore ISI dropped their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Piper Sandler reduced their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $55.85.

Monster Beverage Price Performance

MNST stock opened at $50.83 on Monday. The stock has a market cap of $49.79 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The stock has a 50-day moving average price of $48.99 and a two-hundred day moving average price of $52.44. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 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 analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business posted $0.39 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

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.