Prevail Innovative Wealth Advisors LLC Invests $2.62 Million in Monster Beverage Co. (NASDAQ:MNST)

Prevail Innovative Wealth Advisors LLC bought a new stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 52,422 shares of the company's stock, valued at approximately $2,618,000.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new position in shares of Monster Beverage in the 1st quarter worth approximately $26,000. ICA Group Wealth Management LLC acquired a new position in Monster Beverage during the 4th quarter worth about $27,000. Tortoise Investment Management LLC lifted 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 worth $29,000 after acquiring an additional 396 shares in the last quarter. Stephens Consulting LLC acquired a new position in Monster Beverage in the 2nd quarter valued at about $26,000. Finally, Kings Path Partners LLC purchased a new stake in Monster Beverage during the second quarter worth about $30,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Monster Beverage from $65.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, June 14th. BNP Paribas began coverage on shares of Monster Beverage in a research note on Monday, June 24th. They set an "underperform" rating and a $48.00 price target on the stock. 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 report on Thursday, August 8th. Stifel Nicolaus decreased their target price on Monster Beverage from $63.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, June 17th. Finally, Jefferies Financial Group cut their price target on Monster Beverage from $61.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.85.

Monster Beverage Price Performance

NASDAQ:MNST traded up $0.92 during trading hours on Friday, hitting $50.83. The company's stock had a trading volume of 3,815,977 shares, compared to its average volume of 7,181,729. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The business's 50-day moving average is $48.99 and its two-hundred day moving average is $52.48. The company has a market capitalization of $49.79 billion, a PE ratio of 31.97, a PEG ratio of 2.28 and a beta of 0.74.

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