EverSource Wealth Advisors LLC Reduces Holdings in Monster Beverage Co. (NASDAQ:MNST)

EverSource Wealth Advisors LLC cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 31.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,202 shares of the company’s stock after selling 542 shares during the period. EverSource Wealth Advisors LLC’s holdings in Monster Beverage were worth $62,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MNST. Edmond DE Rothschild Holding S.A. boosted its position in shares of Monster Beverage by 9.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock valued at $124,000 after purchasing an additional 189 shares during the period. Journey Advisory Group LLC grew its position in shares of Monster Beverage by 4.1% during the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after acquiring an additional 196 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Monster Beverage by 5.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock valued at $256,000 after acquiring an additional 209 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Monster Beverage by 0.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after acquiring an additional 211 shares during the period. Finally, Ashton Thomas Private Wealth LLC raised its position in Monster Beverage by 1.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after purchasing an additional 226 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

MNST opened at $52.46 on Friday. The stock’s 50 day simple moving average is $49.24 and its 200 day simple moving average is $52.09. The stock has a market cap of $54.65 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.40 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. 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 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 analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group dropped their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. 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 research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, BMO Capital Markets decreased their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.