LGT Fund Management Co Ltd. Buys 34,980 Shares of Monster Beverage Co. (NASDAQ:MNST)

LGT Fund Management Co Ltd. raised its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 254.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,712 shares of the company's stock after purchasing an additional 34,980 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Monster Beverage were worth $2,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MNST. LRI Investments LLC purchased a new stake in Monster Beverage during the first quarter valued at approximately $26,000. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage in the 2nd quarter worth $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of Monster Beverage in the 4th quarter worth $27,000. Tortoise Investment Management LLC raised its holdings in Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company's stock worth $29,000 after purchasing an additional 396 shares during the period. Finally, Kings Path Partners LLC purchased a new position in Monster Beverage during the second quarter valued at $30,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on MNST shares. Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Truist Financial reduced 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 note on Friday, August 9th. BMO Capital Markets lowered 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 research note on Thursday, August 8th. Finally, Jefferies Financial Group cut their price target on Monster Beverage from $61.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.85.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $0.41 during midday trading on Tuesday, reaching $50.33. 5,309,245 shares of the stock traded hands, compared to its average volume of 7,229,647. 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 stock has a market capitalization of $49.30 billion, a PE ratio of 31.56, a P/E/G ratio of 2.25 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. The company's 50 day moving average is $48.92 and its 200 day moving average is $52.59.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 22.23%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, equities research analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share 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.