Monster Beverage Co. (NASDAQ:MNST) Position Trimmed by DSM Capital Partners LLC

DSM Capital Partners LLC decreased its position in Monster Beverage Co. (NASDAQ:MNST) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,869,179 shares of the company’s stock after selling 662,915 shares during the quarter. Monster Beverage comprises 1.7% of DSM Capital Partners LLC’s investment portfolio, making the stock its 21st largest holding. DSM Capital Partners LLC owned 0.18% of Monster Beverage worth $107,366,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of Monster Beverage by 131.8% in the 1st quarter. Toronto Dominion Bank now owns 508,074 shares of the company’s stock valued at $27,426,000 after buying an additional 288,919 shares in the last quarter. Portside Wealth Group LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $6,379,000. Pacer Advisors Inc. lifted its holdings in Monster Beverage by 584.9% in the 1st quarter. Pacer Advisors Inc. now owns 115,099 shares of the company’s stock worth $6,216,000 after purchasing an additional 98,294 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Monster Beverage by 97.5% in the 1st quarter. Victory Capital Management Inc. now owns 668,556 shares of the company’s stock worth $36,109,000 after purchasing an additional 330,101 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in Monster Beverage by 99.6% in the 1st quarter. Stephens Investment Management Group LLC now owns 238,512 shares of the company’s stock worth $12,882,000 after purchasing an additional 119,020 shares during the last quarter. Institutional investors own 64.60% of the company’s stock.

Monster Beverage Stock Down 0.3 %

NASDAQ:MNST traded down $0.16 during trading hours on Tuesday, reaching $54.66. The company had a trading volume of 599,861 shares, compared to its average volume of 4,573,206. The stock has a 50-day moving average of $52.84 and a two-hundred day moving average of $56.08. Monster Beverage Co. has a one year low of $47.13 and a one year high of $60.47. The firm has a market capitalization of $56.87 billion, a PE ratio of 36.79, a PEG ratio of 1.62 and a beta of 0.83.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Monster Beverage had a return on equity of 20.50% and a net margin of 22.62%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, sell-side analysts expect that Monster Beverage Co. will post 1.56 earnings per share for the current year.

Monster Beverage announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Roth Mkm reduced their target price on Monster Beverage from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley restated an “overweight” rating and issued a $63.00 target price on shares of Monster Beverage in a report on Friday, August 4th. Piper Sandler boosted their target price on Monster Beverage from $50.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup cut their price target on Monster Beverage from $67.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 11th. Finally, StockNews.com initiated coverage on Monster Beverage in a report on Thursday, October 5th. They set a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.77.

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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.