Nicholas Hoffman & Company LLC. Buys 987 Shares of Monster Beverage Co. (NASDAQ:MNST)

Nicholas Hoffman & Company LLC. grew its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 23.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,219 shares of the company’s stock after acquiring an additional 987 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Monster Beverage were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MNST. Ninety One UK Ltd grew its position in shares of Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after acquiring an additional 3,620,436 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Monster Beverage by 1,148.0% during 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 buying an additional 2,388,798 shares in the last quarter. AMF Tjanstepension AB purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at approximately $81,757,000. TD Asset Management Inc lifted its stake in shares of Monster Beverage by 41.1% during the 1st quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock valued at $268,465,000 after buying an additional 1,318,890 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Monster Beverage by 34.1% during the 1st quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after buying an additional 1,234,718 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Monster Beverage Price Performance

MNST stock opened at $52.60 on Thursday. 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 Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The firm’s fifty day moving average is $50.75 and its 200 day moving average is $51.01. The firm has a market cap of $54.79 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.43 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business posted $0.39 EPS. Monster Beverage’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on MNST shares. Royal Bank of Canada dropped their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen dropped their price target on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. BMO Capital Markets dropped their price target on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group lowered their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a research note 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.68.

Monster Beverage 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.