Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC boosted its stake in Monster Beverage Co. (NASDAQ:MNST) by 28.1% in the 3rd quarter, Holdings Channel reports. The firm owned 16,434 shares of the company’s stock after purchasing an additional 3,600 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Monster Beverage were worth $857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ninety One UK Ltd grew its stake in shares of Monster Beverage by 93.9% in the second 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 in the last quarter. Assenagon Asset Management S.A. grew its position in Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after acquiring an additional 2,388,798 shares in the last quarter. AMF Tjanstepension AB purchased a new stake in Monster Beverage during the second quarter worth about $81,757,000. TD Asset Management Inc lifted its position in shares of Monster Beverage by 41.1% during the first quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock worth $268,465,000 after purchasing an additional 1,318,890 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after purchasing an additional 1,234,718 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $53.00 on Monday. The stock has a market capitalization of $55.21 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.43 and a beta of 0.74. The firm’s fifty day simple moving average is $50.39 and its 200-day simple moving average is $51.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. 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 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 business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the company posted $0.39 earnings per share. Monster Beverage’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Bank of America boosted their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup decreased their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their target price on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler decreased their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Two equities research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.