Drake & Associates LLC Buys Shares of 5,423 Monster Beverage Co. (NASDAQ:MNST)

Drake & Associates LLC bought a new stake in Monster Beverage Co. (NASDAQ:MNST) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,423 shares of the company’s stock, valued at approximately $283,000.

Other hedge funds have also made changes to their positions in the company. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Monster Beverage by 9.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after acquiring an additional 189 shares in the last quarter. Journey Advisory Group LLC grew its stake in Monster Beverage by 4.1% in the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after purchasing an additional 196 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Monster Beverage by 5.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after purchasing an additional 209 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Monster Beverage by 0.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after purchasing an additional 211 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Monster Beverage by 1.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after buying an additional 226 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.3 %

Shares of MNST opened at $53.44 on Friday. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The firm has a market capitalization of $55.67 billion, a P/E ratio of 33.61, a P/E/G ratio of 2.29 and a beta of 0.74. The company has a 50-day simple moving average of $49.52 and a 200-day simple moving average of $51.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41.

Monster Beverage (NASDAQ:MNST) last posted its quarterly 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). 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 last year, the company earned $0.39 EPS. The company’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Roth Mkm dropped 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. Wells Fargo & Company cut their price target on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. TD Cowen reduced their price objective on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. lowered their target price 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. Finally, BNP Paribas started coverage on Monster Beverage in a research report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target for the company. 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. According to data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $55.68.

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.