Healthcare of Ontario Pension Plan Trust Fund Purchases 79,809 Shares of Monster Beverage Co. (NASDAQ:MNST)

Healthcare of Ontario Pension Plan Trust Fund grew its position in Monster Beverage Co. (NASDAQ:MNST) by 318.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,857 shares of the company’s stock after buying an additional 79,809 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Monster Beverage were worth $5,238,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MNST. LRI Investments LLC bought a new stake in shares of Monster Beverage in the 1st quarter valued at about $26,000. Stephens Consulting LLC acquired a new stake in Monster Beverage in the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC boosted its stake in Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 396 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Monster Beverage in the 2nd quarter worth approximately $30,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Monster Beverage in the 2nd quarter worth approximately $30,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

Monster Beverage stock opened at $50.95 on Friday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The firm has a market capitalization of $53.08 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.40 and a beta of 0.74. The company has a fifty day simple moving average of $49.36 and a 200-day simple moving average of $51.66. 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 (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $1.90 billion for 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 company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. On average, equities analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of recent analyst reports. Bank of America lowered their target price on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets decreased their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Truist Financial decreased their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Evercore ISI cut their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Stifel Nicolaus cut their target price 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus target price of $55.63.

Monster Beverage 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.