Simplicity Wealth LLC Sells 10,357 Shares of Monster Beverage Co. (NASDAQ:MNST)

Simplicity Wealth LLC decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 71.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,222 shares of the company’s stock after selling 10,357 shares during the period. Simplicity Wealth LLC’s holdings in Monster Beverage were worth $220,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at $26,000. Stephens Consulting LLC bought a new position in Monster Beverage in the second quarter worth about $26,000. Kings Path Partners LLC purchased a new stake in shares of Monster Beverage during the second quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Monster Beverage during the second quarter worth $30,000. Finally, Crewe Advisors LLC purchased a new stake in Monster Beverage in the first quarter valued at about $37,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $51.68 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The business’s fifty day moving average price is $49.25 and its two-hundred day moving average price is $51.22. The firm has a market capitalization of $53.84 billion, a PE ratio of 32.50, a P/E/G ratio of 2.29 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

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

Analysts Set New Price Targets

Several analysts have commented on MNST shares. BMO Capital Markets decreased their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen lowered their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Finally, Citigroup dropped their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.84.

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.