BLB&B Advisors LLC Buys 2,108 Shares of Monster Beverage Co. (NASDAQ:MNST)

BLB&B Advisors LLC boosted its stake in Monster Beverage Co. (NASDAQ:MNST) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,982 shares of the company’s stock after purchasing an additional 2,108 shares during the quarter. BLB&B Advisors LLC’s holdings in Monster Beverage were worth $7,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Monster Beverage by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after buying an additional 1,059,042 shares in the last quarter. Clearbridge Investments LLC lifted its holdings 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 grew its position in Monster Beverage by 4.1% in the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock worth $664,469,000 after acquiring an additional 440,962 shares in the last quarter. Ninety One UK Ltd increased its stake in Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after acquiring an additional 3,620,436 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Monster Beverage by 34.1% during the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock worth $288,082,000 after purchasing an additional 1,234,718 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group increased their price objective on Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Bank of America boosted their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Roth Mkm reduced 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 Monday, August 12th. Piper Sandler decreased their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $55.68.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $53.60 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The company has a 50 day simple moving average of $49.98 and a two-hundred day simple moving average of $51.07. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a market capitalization of $55.84 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 2.29 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Analysts expect that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

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.