Nisa Investment Advisors LLC Reduces Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Nisa Investment Advisors LLC cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 1.5% in the third quarter, Holdings Channel.com reports. The firm owned 300,466 shares of the company’s stock after selling 4,516 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Monster Beverage were worth $15,675,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its stake in Monster Beverage by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,652 shares of the company’s stock worth $1,461,000 after acquiring an additional 516 shares during the last quarter. Azzad Asset Management Inc. ADV increased its stake in Monster Beverage by 0.8% during the first quarter. Azzad Asset Management Inc. ADV now owns 40,380 shares of the company’s stock worth $2,394,000 after acquiring an additional 302 shares during the last quarter. Lake Street Private Wealth LLC increased its stake in Monster Beverage by 26.3% during the first quarter. Lake Street Private Wealth LLC now owns 17,448 shares of the company’s stock worth $1,034,000 after acquiring an additional 3,634 shares during the last quarter. Norden Group LLC acquired a new stake in Monster Beverage during the first quarter worth $2,231,000. Finally, Mainsail Financial Group LLC increased its stake in Monster Beverage by 2.2% during the first quarter. Mainsail Financial Group LLC now owns 20,783 shares of the company’s stock worth $1,232,000 after acquiring an additional 446 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MNST. Jefferies Financial Group cut their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial cut their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note 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 for the company in a research note on Thursday, August 8th. Citigroup lowered their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” 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 assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.68.

Monster Beverage Trading Down 1.2 %

NASDAQ:MNST opened at $52.48 on Wednesday. The firm has a market cap of $54.67 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 2.43 and a beta of 0.74. The stock has a fifty day moving average price of $50.63 and a 200 day moving average price of $51.00. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (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 net margin of 22.84% and a return on equity of 22.23%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Sell-side analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

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.