Intact Investment Management Inc. Lowers Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Intact Investment Management Inc. lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 21.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,442 shares of the company’s stock after selling 2,540 shares during the quarter. Intact Investment Management Inc.’s holdings in Monster Beverage were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Monster Beverage in the 1st quarter worth about $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 bought a new stake in shares of Monster Beverage during the 2nd quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Monster Beverage during the 2nd quarter valued at about $30,000. Finally, Crewe Advisors LLC bought a new stake in shares of Monster Beverage during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 3.4 %

Monster Beverage stock opened at $54.06 on Tuesday. The stock has a 50-day moving average of $51.12 and a two-hundred day moving average of $50.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The stock has a market cap of $52.95 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced 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). The firm had revenue of $1.90 billion during 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 firm’s revenue for the quarter 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. On average, research analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler cut their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Truist Financial decreased their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company cut their target price on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group cut their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Roth Mkm cut their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.63.

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.