Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Ferguson Wellman Capital Management Inc.
Ferguson Wellman Capital Management Inc. reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 7.3% in Q3, now holding 421,201 shares valued at $13,974,000. Other hedge funds have also adjusted their positions, with Park Avenue Securities increasing its stake by 10.5%. Monster Beverage shares rose 1.1% during midday trading, with a market cap of $38.31 billion and a P/E ratio of 33.99. Analysts have mixed ratings, with a consensus target price of $68.68 and an average rating of "Moderate Buy."
Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,201 shares of the company's stock after selling 32,999 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Monster Beverage were worth $21,974,000 as of its most recent SEC filing.
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Several other hedge funds have also recently added to or reduced their stakes in MNST. Park Avenue Securities LLC raised its stake in Monster Beverage by 10.5% in the 1st quarter. Park Avenue Securities LLC now owns 33,204 shares of the company's stock valued at $1,968,000 after purchasing an additional 3,160 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Monster Beverage by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 64,866 shares of the company's stock worth $3,845,000 after acquiring an additional 407 shares during the last quarter. &PARTNERS increased its stake in shares of Monster Beverage by 4.7% in the 1st quarter. &PARTNERS now owns 8,108 shares of the company's stock worth $481,000 after acquiring an additional 366 shares during the last quarter. RDA Financial Network increased its stake in shares of Monster Beverage by 52.7% in the 1st quarter. RDA Financial Network now owns 14,324 shares of the company's stock worth $849,000 after acquiring an additional 4,943 shares during the last quarter. Finally, Security Financial Services INC. acquired a new stake in shares of Monster Beverage in the 1st quarter worth $216,000. 72.36% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Stock Up 1.1 %
Shares of MNST traded up $0.61 during midday trading on Friday, reaching $54.05. The stock had a trading volume of 8,917,610 shares, compared to its average volume of 7,065,491. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company's fifty day simple moving average is $49.68 and its two-hundred day simple moving average is $51.18. 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. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69.
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Monster Beverage (NASDAQ:MNST - Get Free Report) last announced 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). 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 during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. Monster Beverage's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Evercore ISI cut their target price on Monster Beverage from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company lowered their price target on Monster Beverage from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Citigroup lowered their price target on Monster Beverage from $60.00 to $54.00 and set a "buy" rating for the company in a report on Thursday, August 8th. UBS Group increased their price target on Monster Beverage from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Finally, Piper Sandler lowered their price target on Monster Beverage from $59.00 to $46.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued 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.
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View Our Latest Analysis on MNST
About Monster Beverage
(Free Report)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.
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