QRG Capital Management Inc. Has $3.72 Million Stock Position in Monster Beverage Co. (NASDAQ:MNST)

QRG Capital Management Inc. raised its holdings in Monster Beverage Co. (NASDAQ:MNST) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,373 shares of the company’s stock after buying an additional 2,946 shares during the quarter. QRG Capital Management Inc.’s holdings in Monster Beverage were worth $3,724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dai ichi Life Insurance Company Ltd increased its position in Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock valued at $1,192,000 after buying an additional 532 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Monster Beverage by 128.1% during the first quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after acquiring an additional 11,528 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Monster Beverage during the first quarter worth approximately $1,063,000. Swedbank AB lifted its holdings in shares of Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after purchasing an additional 22,823 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Monster Beverage by 50.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company’s stock valued at $5,013,000 after purchasing an additional 33,478 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Trading Up 0.6 %

NASDAQ:MNST opened at $54.44 on Thursday. The firm’s 50 day moving average is $51.40 and its 200 day moving average is $51.00. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The stock has a market capitalization of $53.33 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS 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 for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price target on Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company increased their price objective on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Evercore ISI decreased their price target on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.79.

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.