Net Worth Advisory Group Invests $555,000 in Monster Beverage Co. (NASDAQ:MNST)

Net Worth Advisory Group purchased a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,630 shares of the company’s stock, valued at approximately $555,000.

Several other institutional investors have also added to or reduced their stakes in the company. Inspire Advisors LLC raised its stake in Monster Beverage by 5.8% in the third quarter. Inspire Advisors LLC now owns 10,528 shares of the company’s stock worth $549,000 after buying an additional 573 shares in the last quarter. Trust Point Inc. grew its holdings in shares of Monster Beverage by 8.8% during the 3rd quarter. Trust Point Inc. now owns 8,056 shares of the company’s stock worth $420,000 after acquiring an additional 651 shares during the period. Aaron Wealth Advisors LLC bought a new position in shares of Monster Beverage in the 3rd quarter worth approximately $252,000. M3 Advisory Group LLC bought a new position in shares of Monster Beverage in the 3rd quarter worth approximately $201,000. Finally, Claro Advisors LLC purchased a new position in shares of Monster Beverage in the 3rd quarter valued at approximately $283,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MNST shares. UBS Group raised their target price on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. TD Cowen lowered their price objective 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. Royal Bank of Canada cut their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. BNP Paribas started coverage on shares of Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target on the stock. Finally, Citigroup reduced their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $55.68.

Monster Beverage Trading Up 1.1 %

Shares of NASDAQ MNST opened at $54.05 on Friday. The business’s 50 day moving average price is $49.68 and its 200-day moving average price is $51.14. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The company has a market cap of $56.31 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 2.29 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share (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 company 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 firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

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.