Seven Eight Capital LP Has $3.76 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Seven Eight Capital LP boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 976.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,351 shares of the company's stock after buying an additional 68,349 shares during the period. Seven Eight Capital LP's holdings in Monster Beverage were worth $3,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MNST. Gardner Lewis Asset Management L P boosted its stake in Monster Beverage by 11.5% in the 2nd quarter. Gardner Lewis Asset Management L P now owns 41,668 shares of the company's stock valued at $2,081,000 after buying an additional 4,294 shares in the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Monster Beverage by 4.1% during the second quarter. Elo Mutual Pension Insurance Co now owns 67,270 shares of the company's stock worth $3,360,000 after buying an additional 2,627 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Monster Beverage by 19.7% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,545 shares of the company's stock valued at $1,076,000 after acquiring an additional 3,544 shares during the last quarter. Argent Trust Co boosted its holdings in shares of Monster Beverage by 28.1% in the 2nd quarter. Argent Trust Co now owns 4,477 shares of the company's stock worth $224,000 after acquiring an additional 982 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Monster Beverage by 6.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 45,639 shares of the company's stock valued at $2,284,000 after purchasing an additional 2,782 shares in the last quarter. Institutional investors own 72.36% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BMO Capital Markets decreased their target price on Monster Beverage from $56.00 to $54.00 and set a "market perform" rating on the stock in a report on Thursday, August 8th. TD Cowen cut their price target on Monster Beverage from $60.00 to $55.00 and set a "hold" rating on the stock in a report on Monday, July 15th. Morgan Stanley decreased their price objective on Monster Beverage from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, June 14th. Royal Bank of Canada cut their price objective on Monster Beverage from $64.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Finally, Bank of America lowered their target price on shares of Monster Beverage from $62.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.85.

Monster Beverage Price Performance

Shares of MNST traded up $1.28 during midday trading on Wednesday, hitting $52.35. The company's stock had a trading volume of 7,014,541 shares, compared to its average volume of 7,163,511. 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 one year low of $43.32 and a one year high of $61.22. The stock has a market capitalization of $54.53 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The company's fifty day simple moving average is $49.08 and its two-hundred day simple moving average is $52.32.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its 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). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. As a group, equities analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Monster Beverage 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.