Savoir Faire Capital Management L.P. Purchases 95,303 Shares of Monster Beverage Co. (NASDAQ:MNST)

Savoir Faire Capital Management L.P. lifted its position in Monster Beverage Co. (NASDAQ:MNST) by 417.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 118,148 shares of the company’s stock after acquiring an additional 95,303 shares during the period. Monster Beverage comprises 2.3% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 16th largest holding. Savoir Faire Capital Management L.P.’s holdings in Monster Beverage were worth $5,901,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after purchasing an additional 1,059,042 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Monster Beverage by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock worth $691,182,000 after acquiring an additional 37,391 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Monster Beverage by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after acquiring an additional 440,962 shares during the period. Capital Research Global Investors grew its position in Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after acquiring an additional 3,026,657 shares during the last quarter. Finally, Norges Bank purchased a new stake in Monster Beverage in the fourth quarter worth $517,035,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on MNST shares. Citigroup decreased their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada decreased their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley reduced their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, Piper Sandler dropped their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Trading Down 0.2 %

Shares of NASDAQ:MNST opened at $50.75 on Tuesday. 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 firm has a market capitalization of $52.87 billion, a P/E ratio of 31.92, a P/E/G ratio of 2.28 and a beta of 0.74. The business’s 50-day moving average is $49.00 and its 200 day moving average is $52.38. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company 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 was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, research analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

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.