Torch Wealth Management LLC trimmed its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,888 shares of the company’s stock after selling 650 shares during the period. Torch Wealth Management LLC’s holdings in Monster Beverage were worth $376,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of MNST. AJO LP boosted its position in Monster Beverage by 811.6% during the first quarter. AJO LP now owns 1,754,408 shares of the company’s stock valued at $95,756,000 after buying an additional 1,561,959 shares during the period. Banco Santander S.A. boosted its position in Monster Beverage by 1,339.2% during the first quarter. Banco Santander S.A. now owns 863,848 shares of the company’s stock valued at $47,148,000 after buying an additional 803,827 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in Monster Beverage by 36.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,227,235 shares of the company’s stock valued at $66,982,000 after buying an additional 329,076 shares during the period. Toronto Dominion Bank boosted its position in Monster Beverage by 121.3% during the first quarter. Toronto Dominion Bank now owns 554,607 shares of the company’s stock valued at $30,267,000 after buying an additional 303,973 shares during the period. Finally, Geode Capital Management LLC boosted its position in Monster Beverage by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock valued at $262,159,000 after buying an additional 289,340 shares during the period. Institutional investors and hedge funds own 66.21% of the company’s stock.
A number of analysts have recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. UBS Group reiterated a “sell” rating and set a $52.00 target price (down from $53.00) on shares of Monster Beverage in a report on Thursday, August 8th. Wells Fargo & Co increased their target price on shares of Monster Beverage from $56.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, May 29th. Finally, Macquarie set a $63.00 target price on shares of Monster Beverage and gave the stock a “hold” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.21.
Shares of NASDAQ MNST traded up $0.87 on Thursday, reaching $56.98. 168,478 shares of the company’s stock traded hands, compared to its average volume of 3,601,094. The stock has a market cap of $30.77 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 1.93 and a beta of 1.30. The company has a 50 day moving average of $63.43. Monster Beverage Corp has a 12 month low of $47.74 and a 12 month high of $66.38.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.03). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, analysts predict that Monster Beverage Corp will post 2.06 earnings per share for the current year.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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