Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Harmony Asset Management LLC

Harmony Asset Management LLC decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 66.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,688 shares of the company’s stock after selling 23,300 shares during the period. Harmony Asset Management LLC’s holdings in Monster Beverage were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Ninety One UK Ltd lifted its holdings in Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after buying an additional 3,620,436 shares during the last quarter. Capital Research Global Investors increased its stake in Monster Beverage by 40.6% in the fourth 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. TD Asset Management Inc increased its stake in Monster Beverage by 143.8% in the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock valued at $184,921,000 after purchasing an additional 1,893,064 shares during the last quarter. AMF Tjanstepension AB purchased a new position in Monster Beverage in the second quarter valued at approximately $81,757,000. Finally, William Blair Investment Management LLC increased its stake in Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after purchasing an additional 1,234,718 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

MNST stock opened at $51.18 on Monday. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock’s 50 day moving average is $49.11 and its two-hundred day moving average is $52.19. The company has a market capitalization of $53.32 billion, a PE ratio of 32.19, a P/E/G ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued 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). Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted $0.39 earnings per share. Monster Beverage’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial decreased their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Roth Mkm decreased their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. UBS Group decreased their price objective on Monster Beverage from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley decreased their price objective on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, Wells Fargo & Company decreased their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.