Exchange Traded Concepts LLC Sells 3,600 Shares of Monster Beverage Co. (NASDAQ:MNST)

Exchange Traded Concepts LLC lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 37.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,959 shares of the company’s stock after selling 3,600 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Monster Beverage were worth $311,000 at the end of the most recent quarter.

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

Monster Beverage Price Performance

MNST opened at $54.05 on Friday. The stock has a market capitalization of $56.31 billion, a P/E ratio of 33.99, a PEG 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 Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The stock has a 50-day moving average price of $49.68 and a 200-day moving average price of $51.14.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 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 in the previous year, the business earned $0.39 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Equities analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on MNST shares. TD Cowen cut their price objective on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a report on Monday, July 15th. Royal Bank of Canada cut their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group decreased their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two equities 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. According to data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus 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.