Amalgamated Bank Decreases Stake in Monster Beverage Co. (NASDAQ:MNST)

Amalgamated Bank cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,784 shares of the company’s stock after selling 6,175 shares during the quarter. Amalgamated Bank’s holdings in Monster Beverage were worth $7,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in Monster Beverage during the 1st quarter worth about $26,000. Stephens Consulting LLC acquired a new stake in shares of Monster Beverage during the second quarter worth about $26,000. Kings Path Partners LLC purchased a new stake in Monster Beverage in the second quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in Monster Beverage in the 2nd quarter worth approximately $30,000. Finally, Crewe Advisors LLC purchased a new position in Monster Beverage during the 1st quarter worth approximately $37,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $54.44 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The business has a 50 day simple moving average of $51.40 and a two-hundred day simple moving average of $51.00. The stock has a market capitalization of $53.33 billion, a P/E ratio of 33.81, a PEG ratio of 2.47 and a beta of 0.74. 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 quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts predict that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on MNST shares. 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 report on Thursday, August 8th. Wells Fargo & Company upped their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday. Evercore ISI reduced their price target on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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. Finally, Royal Bank of Canada cut their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company 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 presently has an average rating of “Moderate Buy” and a consensus price target of $55.79.

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.