Hennion & Walsh Asset Management Inc. Raises Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Hennion & Walsh Asset Management Inc. raised its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,311 shares of the company’s stock after buying an additional 462 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Monster Beverage were worth $2,573,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Monster Beverage by 9.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock worth $124,000 after purchasing an additional 189 shares during the period. Journey Advisory Group LLC raised its position in Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after purchasing an additional 196 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Monster Beverage by 5.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after buying an additional 209 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Monster Beverage by 0.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after buying an additional 211 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of Monster Beverage by 1.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after buying an additional 226 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MNST. Royal Bank of Canada dropped their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group cut their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Bank of America increased 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. Evercore ISI cut their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.68.

Monster Beverage Stock Performance

Shares of MNST stock opened at $53.44 on Friday. The company has a market capitalization of $55.67 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. 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 company’s 50-day moving average is $50.13 and its 200 day moving average is $51.09.

Monster Beverage (NASDAQ:MNST) last posted its quarterly 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). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts expect that Monster Beverage Co. will post 1.66 EPS 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.