Western Pacific Wealth Management LP Lowers Stake in Monster Beverage Co. (NASDAQ:MNST)

Western Pacific Wealth Management LP lessened its holdings in Monster Beverage Co. (NASDAQ:MNST) by 18.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,801 shares of the company’s stock after selling 405 shares during the quarter. Western Pacific Wealth Management LP’s holdings in Monster Beverage were worth $94,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Duality Advisers LP purchased a new position in shares of Monster Beverage during the 1st quarter valued at approximately $1,088,000. Empirical Finance LLC grew its position in shares of Monster Beverage by 3.4% in the first quarter. Empirical Finance LLC now owns 27,202 shares of the company’s stock valued at $1,613,000 after purchasing an additional 895 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Monster Beverage by 22.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 72,967 shares of the company’s stock worth $4,325,000 after purchasing an additional 13,287 shares in the last quarter. Empowered Funds LLC raised its position in shares of Monster Beverage by 307.1% during the 1st quarter. Empowered Funds LLC now owns 22,843 shares of the company’s stock worth $1,354,000 after purchasing an additional 17,232 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC purchased a new position in Monster Beverage in the 1st quarter valued at about $320,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Truist Financial decreased their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. TD Cowen lowered their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Piper Sandler cut their target price 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. Finally, Citigroup lowered their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.79.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $54.73 on Friday. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. 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 $53.61 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The business’s fifty day moving average price is $51.40 and its 200 day moving average price is $51.00.

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