Stonegate Investment Group LLC Sells 380 Shares of Monster Beverage Co. (NASDAQ:MNST)

Stonegate Investment Group LLC reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,643 shares of the company’s stock after selling 380 shares during the quarter. Stonegate Investment Group LLC’s holdings in Monster Beverage were worth $242,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in shares of Monster Beverage by 10.5% in the first quarter. Park Avenue Securities LLC now owns 33,204 shares of the company’s stock valued at $1,968,000 after acquiring an additional 3,160 shares in the last quarter. Gulf International Bank UK Ltd grew its stake in Monster Beverage by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 64,866 shares of the company’s stock valued at $3,845,000 after purchasing an additional 407 shares during the period. &PARTNERS increased its position in shares of Monster Beverage by 4.7% during the 1st quarter. &PARTNERS now owns 8,108 shares of the company’s stock valued at $481,000 after purchasing an additional 366 shares during the last quarter. Security Financial Services INC. bought a new stake in shares of Monster Beverage during the 1st quarter worth $216,000. Finally, Ballentine Partners LLC boosted its holdings in shares of Monster Beverage by 3.5% in the 1st quarter. Ballentine Partners LLC now owns 7,698 shares of the company’s stock worth $456,000 after buying an additional 257 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

NASDAQ:MNST opened at $54.05 on Friday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock has a fifty day moving average of $49.68 and a 200 day moving average of $51.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The firm has a market capitalization of $56.31 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 2.29 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued its quarterly 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). 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 for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the business posted $0.39 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BNP Paribas began coverage on Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 price objective on the stock. Roth Mkm decreased their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Citigroup dropped their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Two 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. According to data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and an average target price of $55.68.

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.