DT Investment Partners LLC Raises Position in Monster Beverage Co. (NASDAQ:MNST)

DT Investment Partners LLC increased its stake in Monster Beverage Co. (NASDAQ:MNST) by 38.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,386 shares of the company’s stock after purchasing an additional 386 shares during the quarter. DT Investment Partners LLC’s holdings in Monster Beverage were worth $72,000 at the end of the most recent quarter.

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

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $53.44 on Friday. The firm has a market capitalization of $55.67 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. 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 Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The business’s 50-day moving average price is $50.13 and its 200-day moving average price is $51.09.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 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 the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. Sell-side analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on MNST. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Truist Financial dropped their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. TD Cowen reduced their price target on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Monday, July 15th. Finally, Wells Fargo & Company dropped 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage 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.