Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,363,935 shares of the company's stock after purchasing an additional 141,495 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Monster Beverage worth $71,156,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. lifted its position in shares of Monster Beverage by 9.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company's stock worth $124,000 after buying an additional 189 shares in the last quarter. Journey Advisory Group LLC boosted its position in shares of Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company's stock valued at $248,000 after acquiring an additional 196 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Monster Beverage by 5.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company's stock valued at $256,000 after purchasing an additional 209 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company's stock worth $2,434,000 after purchasing an additional 211 shares during the last quarter. Finally, Crewe Advisors LLC raised its stake in Monster Beverage by 37.5% during the second quarter. Crewe Advisors LLC now owns 850 shares of the company's stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 1.1 %

Shares of NASDAQ:MNST traded down $0.59 during trading hours on Friday, hitting $54.14. The company's stock had a trading volume of 10,426,260 shares, compared to its average volume of 5,524,266. The firm's fifty day moving average price is $51.69 and its 200 day moving average price is $51.01. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a market capitalization of $53.03 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a "buy" rating for the company in a research note on Friday. Jefferies Financial Group lowered their price objective 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. Citigroup cut their target price on Monster Beverage from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Truist Financial decreased their price target on Monster Beverage from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Friday, August 9th. Finally, Roth Mkm cut their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

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.