Carderock Capital Management Inc. Has $2.50 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

Carderock Capital Management Inc. lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 26.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,838 shares of the company’s stock after purchasing an additional 9,962 shares during the period. Carderock Capital Management Inc.’s holdings in Monster Beverage were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission.

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

Monster Beverage Trading Up 1.8 %

Shares of NASDAQ MNST opened at $53.58 on Thursday. The company has a 50-day moving average of $49.35 and a two-hundred day moving average of $51.19. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The company has a market cap of $55.82 billion, a PE ratio of 33.70, a P/E/G ratio of 2.29 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued 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). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. As a group, equities analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the subject of several recent research reports. Bank of America lifted their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Piper Sandler reduced their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. UBS Group boosted their price objective on Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, BMO Capital Markets dropped their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Two 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.