Kentucky Retirement Systems Trims Stake in Monster Beverage Co. (NASDAQ:MNST)

Kentucky Retirement Systems lowered its holdings in Monster Beverage Co. (NASDAQ:MNST) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,449 shares of the company’s stock after selling 2,651 shares during the period. Kentucky Retirement Systems’ holdings in Monster Beverage were worth $2,670,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. LRI Investments LLC purchased a new stake in Monster Beverage in the first quarter valued at approximately $26,000. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at $26,000. ICA Group Wealth Management LLC bought a new stake in shares of Monster Beverage during the 4th quarter worth $27,000. Tortoise Investment Management LLC grew its position in Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares in the last quarter. Finally, Kings Path Partners LLC bought a new position in Monster Beverage in the second quarter valued at $30,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $51.18 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company’s 50-day moving average is $49.11 and its 200 day moving average is $52.27. The stock has a market capitalization of $53.32 billion, a P/E ratio of 32.19, a P/E/G ratio of 2.28 and a beta of 0.74.

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

Analysts Set New Price Targets

MNST has been the subject of a number of research reports. BNP Paribas began coverage on Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price target 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. Stifel Nicolaus lowered their price objective on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, June 17th. TD Cowen reduced their target price on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, July 15th. Finally, Piper Sandler lowered their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

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.