Baker Tilly Wealth Management LLC Boosts Holdings in Monster Beverage Co. (NASDAQ:MNST)

Baker Tilly Wealth Management LLC increased its position in Monster Beverage Co. (NASDAQ:MNST) by 28.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,434 shares of the company’s stock after purchasing an additional 3,600 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Monster Beverage were worth $857,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock valued at $3,837,867,000 after purchasing an additional 1,059,042 shares in the last quarter. Clearbridge Investments LLC raised its position in Monster Beverage by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock worth $691,182,000 after buying an additional 37,391 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Monster Beverage by 4.1% in the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after purchasing an additional 440,962 shares during the last quarter. Ninety One UK Ltd boosted its stake in shares of Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after buying an additional 3,620,436 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after acquiring an additional 1,234,718 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. BMO Capital Markets cut their target price 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. Roth Mkm reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada cut their target price on shares of 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 raised their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company lowered their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.68.

Monster Beverage Trading Down 0.7 %

Shares of MNST opened at $53.00 on Monday. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $55.21 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.43 and a beta of 0.74. The firm has a 50-day moving average price of $50.39 and a 200 day moving average price of $51.03. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Sell-side analysts forecast that Monster Beverage Co. will post 1.66 EPS 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.