Legacy Financial Advisors Inc. Has $641,000 Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Legacy Financial Advisors Inc. reduced its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,830 shares of the company’s stock after selling 420 shares during the period. Legacy Financial Advisors Inc.’s holdings in Monster Beverage were worth $641,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MNST. LRI Investments LLC acquired a new position in shares of Monster Beverage during the first quarter worth about $26,000. Stephens Consulting LLC bought a new stake in Monster Beverage in the 2nd quarter valued at approximately $26,000. ICA Group Wealth Management LLC acquired a new position in Monster Beverage during the 4th quarter worth approximately $27,000. Tortoise Investment Management LLC boosted its position in Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Finally, Kings Path Partners LLC bought a new position in shares of Monster Beverage during the 2nd quarter worth approximately $30,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Trading Down 1.3 %

MNST stock opened at $51.18 on Friday. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The stock has a market cap of $53.32 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The company has a fifty day moving average price of $49.11 and a two-hundred day moving average price of $52.23. 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 (NASDAQ:MNST) last announced its earnings results on Wednesday, August 7th. The company reported $0.41 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $0.39 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MNST. JPMorgan Chase & Co. 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 Thursday, August 8th. Truist Financial cut their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. TD Cowen decreased their price objective on 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 dropped their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price target on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.