Heartland Bank & Trust Co Trims Holdings in Monster Beverage Co. (NASDAQ:MNST)

Heartland Bank & Trust Co reduced its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,569 shares of the company’s stock after selling 625 shares during the period. Heartland Bank & Trust Co’s holdings in Monster Beverage were worth $447,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Greenleaf Trust grew its holdings in Monster Beverage by 12.1% during the 3rd quarter. Greenleaf Trust now owns 14,670 shares of the company’s stock worth $765,000 after acquiring an additional 1,589 shares in the last quarter. BLB&B Advisors LLC boosted its stake in Monster Beverage by 1.5% during the 3rd quarter. BLB&B Advisors LLC now owns 143,982 shares of the company’s stock worth $7,512,000 after purchasing an additional 2,108 shares during the period. Defender Capital LLC. boosted its stake in Monster Beverage by 1.6% during the 3rd quarter. Defender Capital LLC. now owns 442,581 shares of the company’s stock worth $23,089,000 after purchasing an additional 7,095 shares during the period. Whittier Trust Co. boosted its stake in Monster Beverage by 644.6% during the 3rd quarter. Whittier Trust Co. now owns 9,412 shares of the company’s stock worth $491,000 after purchasing an additional 8,148 shares during the period. Finally, Crew Capital Management Ltd. boosted its stake in Monster Beverage by 18.0% during the 3rd quarter. Crew Capital Management Ltd. now owns 18,824 shares of the company’s stock worth $982,000 after purchasing an additional 2,872 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of MNST opened at $53.56 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The stock has a market cap of $55.79 billion, a P/E ratio of 33.69, a PEG ratio of 2.29 and a beta of 0.74. The company has a 50-day moving average of $50.13 and a two-hundred day moving average of $51.09. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

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). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, research analysts predict that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MNST. Roth Mkm decreased their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Piper Sandler reduced their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group reduced their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Evercore ISI reduced 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 note on Thursday, August 8th. Finally, Bank of America raised their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Monster Beverage presently has an average 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.