Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,568 shares of the company’s stock after buying an additional 9,077 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Monster Beverage were worth $4,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in shares of Monster Beverage in the 1st quarter valued at $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage during the 2nd quarter worth $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $27,000. Tortoise Investment Management LLC boosted its stake in shares of Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 396 shares during the period. Finally, Kings Path Partners LLC purchased a new position in shares of Monster Beverage during the second quarter worth about $30,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.2 %

NASDAQ MNST opened at $50.75 on Tuesday. The company has a 50-day moving average of $49.00 and a 200-day moving average of $52.38. 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 12 month low of $43.32 and a 12 month high of $61.22. The company has a market cap of $52.87 billion, a P/E ratio of 31.92, a P/E/G ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced its quarterly 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. As a group, equities analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. 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 note on Thursday, August 8th. UBS Group lowered their price objective on shares of Monster Beverage from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Roth Mkm cut their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Jefferies Financial Group lowered their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler cut their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

About Monster Beverage

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.