Cim LLC Acquires 5,517 Shares of Monster Beverage Co. (NASDAQ:MNST)

Cim LLC increased its position in Monster Beverage Co. (NASDAQ:MNST) by 1.8% during the second quarter, HoldingsChannel.com reports. The firm owned 303,810 shares of the company’s stock after acquiring an additional 5,517 shares during the quarter. Monster Beverage makes up approximately 2.2% of Cim LLC’s holdings, making the stock its 21st largest holding. Cim LLC’s holdings in Monster Beverage were worth $14,650,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of Monster Beverage during the 1st quarter valued at $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage during the second quarter valued at approximately $26,000. ICA Group Wealth Management LLC purchased a new stake in Monster Beverage in the 4th quarter worth $27,000. Tortoise Investment Management LLC raised its stake in Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares during the period. Finally, Kings Path Partners LLC bought a new stake in shares of Monster Beverage during the second quarter valued at approximately $30,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 1.1 %

Shares of Monster Beverage stock opened at $51.59 on Wednesday. The firm has a market cap of $53.74 billion, a P/E ratio of 32.45, a P/E/G ratio of 2.40 and a beta of 0.74. The business has a 50-day moving average price of $49.33 and a 200 day moving average price of $51.80. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly 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). 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 EPS. Monster Beverage’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent research reports. Roth Mkm decreased their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada decreased their price target 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. BMO Capital Markets dropped their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Piper Sandler dropped their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.85.

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.