Monster Beverage Co. (NASDAQ:MNST) is Montag & Caldwell LLC's 10th Largest Position

Montag & Caldwell LLC raised its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 316,565 shares of the company's stock after purchasing an additional 11,519 shares during the period. Monster Beverage accounts for approximately 3.2% of Montag & Caldwell LLC's holdings, making the stock its 10th biggest holding. Montag & Caldwell LLC's holdings in Monster Beverage were worth $15,812,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. LRI Investments LLC acquired a new position in Monster Beverage in the first quarter worth $26,000. Stephens Consulting LLC bought a new stake in shares of Monster Beverage in the 2nd quarter worth approximately $26,000. ICA Group Wealth Management LLC acquired a new position in Monster Beverage during the 4th quarter valued at approximately $27,000. Tortoise Investment Management LLC increased its position in Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company's stock worth $29,000 after buying an additional 396 shares during the period. Finally, Kings Path Partners LLC bought a new position in shares of Monster Beverage during the second quarter worth about $30,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Down 0.2 %

MNST stock traded down $0.08 during mid-day trading on Monday, reaching $50.75. 4,077,568 shares of the stock traded hands, compared to its average volume of 7,164,455. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock's fifty day moving average is $48.99 and its 200-day moving average is $52.44. The company has a market cap of $49.71 billion, a P/E ratio of 31.91, a P/E/G ratio of 2.28 and a beta of 0.74. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued 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 analysts' expectations of $2.01 billion. During the same quarter last year, the company posted $0.39 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Monster Beverage from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company lowered their target price on Monster Beverage from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Truist Financial cut their target price on Monster Beverage from $46.00 to $40.00 and set a "sell" rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on Monster Beverage from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley cut their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.85.

About Monster Beverage

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.