Western Pacific Wealth Management LP Trims Holdings in Monster Beverage Co. (NASDAQ:MNST)

Western Pacific Wealth Management LP reduced its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 18.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,801 shares of the company’s stock after selling 405 shares during the quarter. Western Pacific Wealth Management LP’s holdings in Monster Beverage were worth $94,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in Monster Beverage during the 1st quarter valued at $26,000. Stephens Consulting LLC purchased a new stake in Monster Beverage in the second quarter worth about $26,000. Kings Path Partners LLC bought a new position in Monster Beverage during the 2nd quarter worth about $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in Monster Beverage during the 2nd quarter valued at about $30,000. Finally, Crewe Advisors LLC bought a new stake in shares of Monster Beverage in the 1st quarter valued at about $37,000. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MNST shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial cut their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. BMO Capital Markets decreased their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Citigroup cut their target price on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company increased their price target on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.79.

Monster Beverage Stock Up 0.5 %

MNST stock opened at $54.73 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The firm’s fifty day simple moving average is $51.40 and its 200-day simple 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 company has a market capitalization of $53.61 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities research analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Monster Beverage Company 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.