Monster Beverage Co. (NASDAQ:MNST) Stock Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,314 shares of the company’s stock after selling 2,935 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Monster Beverage were worth $2,416,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd lifted its stake in Monster Beverage by 2.3% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock worth $1,192,000 after purchasing an additional 532 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Monster Beverage by 156.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 114,100 shares of the company’s stock worth $6,764,000 after acquiring an additional 69,674 shares during the last quarter. Cetera Advisors LLC boosted its stake in Monster Beverage by 128.1% in the first quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after acquiring an additional 11,528 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of Monster Beverage during the first quarter valued at approximately $1,063,000. Finally, Swedbank AB raised its position in shares of Monster Beverage by 23.1% during the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after purchasing an additional 22,823 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MNST shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Bank of America upped their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Roth Mkm cut their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada decreased their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Citigroup cut their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.68.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $52.48 on Wednesday. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $50.63 and its two-hundred day moving average price is $51.00. The stock has a market cap of $54.67 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 2.43 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its 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). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, sell-side analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

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.