Meeder Advisory Services Inc. Buys 2,810 Shares of Monster Beverage Co. (NASDAQ:MNST)

Meeder Advisory Services Inc. raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 23.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,673 shares of the company’s stock after acquiring an additional 2,810 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Monster Beverage were worth $733,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after buying an additional 1,059,042 shares during the last quarter. Clearbridge Investments LLC grew its position in Monster Beverage by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock worth $691,182,000 after acquiring an additional 37,391 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Monster Beverage by 4.1% during the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after purchasing an additional 440,962 shares in the last quarter. Capital Research Global Investors raised its position in Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after purchasing an additional 3,026,657 shares during the last quarter. Finally, Norges Bank acquired a new position in Monster Beverage in the fourth quarter worth $517,035,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 1.8 %

Shares of MNST stock opened at $50.83 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 market cap of $49.79 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 2.28 and a beta of 0.74. The firm’s 50-day moving average is $48.99 and its 200-day moving average is $52.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data 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 return on equity of 22.23% and a net margin of 22.84%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that Monster Beverage Co. will post 1.66 EPS for the current year.

Analyst Ratings Changes

MNST has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 14th. BMO Capital Markets reduced their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus lowered their price target 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. JPMorgan Chase & Co. reduced 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. Finally, Piper Sandler lowered their target price on 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 issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.