Whittier Trust Co. Boosts Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Whittier Trust Co. boosted its stake in Monster Beverage Co. (NASDAQ:MNST) by 644.6% during the 3rd quarter, Holdings Channel reports. The firm owned 9,412 shares of the company’s stock after buying an additional 8,148 shares during the quarter. Whittier Trust Co.’s holdings in Monster Beverage were worth $491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC purchased a new position in shares of Monster Beverage in the first quarter valued at $26,000. Stephens Consulting LLC purchased a new position in shares of Monster Beverage in the 2nd quarter worth $26,000. Kings Path Partners LLC bought a new stake in shares of Monster Beverage in the 2nd quarter worth about $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at about $30,000. Finally, Crewe Advisors LLC bought a new position in shares of Monster Beverage in the 1st quarter valued at about $37,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $53.56 on Thursday. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The stock’s fifty day moving average price is $50.13 and its 200-day moving average price is $51.09. The firm has a market cap of $55.79 billion, a P/E ratio of 33.69, a P/E/G ratio of 2.29 and a beta of 0.74. 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MNST. UBS Group upped 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. Royal Bank of Canada decreased their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Evercore ISI dropped their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group reduced 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. Finally, Truist Financial dropped their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.68.

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.