China Universal Asset Management Co. Ltd. Buys 6,162 Shares of Monster Beverage Co. (NASDAQ:MNST)

China Universal Asset Management Co. Ltd. grew its stake in Monster Beverage Co. (NASDAQ:MNST) by 98.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,425 shares of the company’s stock after purchasing an additional 6,162 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Monster Beverage were worth $648,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MNST. Wealth Enhancement Advisory Services LLC raised its holdings in Monster Beverage by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,652 shares of the company’s stock worth $1,461,000 after purchasing an additional 516 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in Monster Beverage by 0.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 40,380 shares of the company’s stock worth $2,394,000 after purchasing an additional 302 shares in the last quarter. Lake Street Private Wealth LLC raised its holdings in Monster Beverage by 26.3% in the 1st quarter. Lake Street Private Wealth LLC now owns 17,448 shares of the company’s stock worth $1,034,000 after purchasing an additional 3,634 shares in the last quarter. Norden Group LLC bought a new position in Monster Beverage in the 1st quarter worth $2,231,000. Finally, Mainsail Financial Group LLC raised its holdings in Monster Beverage by 2.2% in the 1st quarter. Mainsail Financial Group LLC now owns 20,783 shares of the company’s stock worth $1,232,000 after purchasing an additional 446 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $52.48 on Wednesday. The firm’s 50-day moving average price is $50.63 and its 200-day moving average price is $51.00. 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 $54.67 billion, a PE ratio of 33.01, a PEG ratio of 2.43 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 announced its quarterly 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). 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 business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MNST shares. Evercore ISI reduced their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America upped their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. UBS Group upped their target price on shares of Monster Beverage from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Piper Sandler reduced their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report 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’s stock. According to MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus price target of $55.68.

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.