Graypoint LLC Grows Position in Monster Beverage Co. (NASDAQ:MNST)

Graypoint LLC boosted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 16.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,173 shares of the company’s stock after acquiring an additional 857 shares during the quarter. Graypoint LLC’s holdings in Monster Beverage were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd raised its position in Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock valued at $1,192,000 after purchasing an additional 532 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of Monster Beverage by 128.1% during the first quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock worth $1,217,000 after buying an additional 11,528 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Monster Beverage during the first quarter worth about $1,063,000. Swedbank AB increased its position in Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock valued at $6,080,000 after acquiring an additional 22,823 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in Monster Beverage by 50.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company’s stock valued at $5,013,000 after acquiring an additional 33,478 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $54.14 on Friday. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a market capitalization of $53.03 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. 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 firm has a 50-day moving average price of $51.69 and a two-hundred day moving average price of $51.03.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on MNST. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday. Truist Financial reduced their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Bank of America boosted their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reduced their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Stifel Nicolaus lifted their price objective on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

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.