Seven Eight Capital LP Grows Stake in Monster Beverage Co. (NASDAQ:MNST)

Seven Eight Capital LP increased its stake in Monster Beverage Co. (NASDAQ:MNST) by 976.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,351 shares of the company’s stock after acquiring an additional 68,349 shares during the period. Seven Eight Capital LP’s holdings in Monster Beverage were worth $3,764,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of Monster Beverage during the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at $27,000. Tortoise Investment Management LLC grew its position 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 during the period. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter worth about $26,000. Finally, Kings Path Partners LLC purchased a new position in Monster Beverage in the 2nd quarter valued at about $30,000. Institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MNST shares. BMO Capital Markets cut 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 report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America lowered their target price on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company lowered their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.85.

Monster Beverage Stock Up 0.6 %

Monster Beverage stock opened at $51.07 on Wednesday. The firm has a fifty day moving average price of $49.03 and a two-hundred day moving average price of $52.32. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 2.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data 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). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Monster Beverage’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts forecast 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.