United Asset Strategies Inc. Has $7.55 Million Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

United Asset Strategies Inc. cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,739 shares of the company’s stock after selling 8,216 shares during the quarter. United Asset Strategies Inc.’s holdings in Monster Beverage were worth $7,551,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Monster Beverage by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,652 shares of the company’s stock worth $1,461,000 after buying an additional 516 shares in the last quarter. Norden Group LLC acquired a new position in shares of Monster Beverage during the 1st quarter worth approximately $2,231,000. First Trust Direct Indexing L.P. increased its holdings in shares of Monster Beverage by 17.3% during the first quarter. First Trust Direct Indexing L.P. now owns 25,286 shares of the company’s stock worth $1,499,000 after purchasing an additional 3,726 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Monster Beverage by 1.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock worth $789,000 after purchasing an additional 226 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Monster Beverage by 6.9% in the first quarter. Van ECK Associates Corp now owns 124,313 shares of the company’s stock valued at $7,369,000 after buying an additional 8,016 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.8 %

Shares of NASDAQ MNST traded up $0.42 during trading on Thursday, reaching $53.02. The company had a trading volume of 737,327 shares, compared to its average volume of 6,927,126. The stock has a market cap of $55.23 billion, a P/E ratio of 33.08, a PEG ratio of 2.43 and a beta of 0.74. The company’s fifty day moving average price is $50.75 and its 200-day moving average price is $51.01. The company has a quick ratio of 2.69, a current ratio of 3.41 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.

Monster Beverage (NASDAQ:MNST) last released its earnings results 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). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. As a group, research analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent research reports. BMO Capital Markets lowered their price objective on 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. Bank of America boosted their price target on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada cut their price target 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. TD Cowen lowered their price target on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a report on Monday, July 15th. Finally, UBS Group lifted their target price on Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.