Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its position in Monster Beverage Co. (NASDAQ:MNST) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,982 shares of the company’s stock after selling 3,384 shares during the quarter. Cetera Investment Advisers’ holdings in Monster Beverage were worth $3,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. LRI Investments LLC acquired a new position in Monster Beverage during the 1st quarter worth $26,000. Tortoise Investment Management LLC grew its stake 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 purchasing an additional 396 shares in the last quarter. Stephens Consulting LLC acquired a new position in Monster Beverage during the 2nd quarter worth $26,000. Kings Path Partners LLC acquired a new position in Monster Beverage during the 2nd quarter worth $30,000. Finally, Crewe Advisors LLC acquired a new position in Monster Beverage during the 1st quarter worth $37,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Up 0.6 %

MNST opened at $49.77 on Thursday. The business has a 50 day moving average price of $49.28 and a two-hundred day moving average price of $51.45. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The company has a market cap of $51.85 billion, a PE ratio of 31.30, a P/E/G ratio of 2.40 and a beta of 0.74. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations 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 was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, research analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current year.

Analyst Ratings Changes

MNST has been the subject of several analyst reports. TD Cowen lowered their target price on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Jefferies Financial Group decreased their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial decreased their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Finally, Roth Mkm decreased their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.84.

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.