Nicholas Hoffman & Company LLC. Buys 987 Shares of Monster Beverage Co. (NASDAQ:MNST)

Nicholas Hoffman & Company LLC. boosted its stake in Monster Beverage Co. (NASDAQ:MNST) by 23.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,219 shares of the company’s stock after purchasing an additional 987 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Monster Beverage were worth $272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MNST. Ninety One UK Ltd increased its position in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after acquiring an additional 3,620,436 shares during the period. Assenagon Asset Management S.A. increased its position in Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after acquiring an additional 2,388,798 shares during the period. AMF Tjanstepension AB acquired a new position in Monster Beverage in the 2nd quarter valued at approximately $81,757,000. TD Asset Management Inc increased its position in Monster Beverage by 41.1% in the 1st quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock valued at $268,465,000 after acquiring an additional 1,318,890 shares during the period. Finally, William Blair Investment Management LLC increased its position in Monster Beverage by 34.1% in the 1st 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. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.2 %

NASDAQ:MNST opened at $52.60 on Thursday. 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 has a 50-day moving average of $50.75 and a 200-day moving average of $51.01. The company has a market cap of $54.79 billion, a PE ratio of 33.08, a PEG ratio of 2.43 and a beta of 0.74. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 earnings per share. As a group, equities research analysts expect that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MNST shares. Piper Sandler decreased their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. BMO Capital Markets decreased 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 research report on Thursday, August 8th. Truist Financial decreased their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Finally, Roth Mkm decreased 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently 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.