Monster Beverage Co. (NASDAQ:MNST) Stock Position Raised by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lifted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 141.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 854 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Monster Beverage were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of MNST. Tower Research Capital LLC TRC grew its position in Monster Beverage by 59.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock worth $7,609,000 after purchasing an additional 49,495 shares during the last quarter. Alaethes Wealth LLC bought a new position in Monster Beverage in the 4th quarter worth about $1,528,000. Norges Bank bought a new position in Monster Beverage in the 4th quarter worth about $517,035,000. First Trust Advisors LP grew its position in Monster Beverage by 1.3% in the 4th quarter. First Trust Advisors LP now owns 3,904,636 shares of the company’s stock worth $224,946,000 after purchasing an additional 50,454 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Monster Beverage by 156.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 114,100 shares of the company’s stock worth $6,764,000 after purchasing an additional 69,674 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MNST shares. Morgan Stanley decreased their target price 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. Bank of America reduced their price target on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group reduced their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, BNP Paribas began coverage on shares of Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target for the company. Two 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.85.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $49.65 on Thursday. The firm has a fifty day simple moving average of $48.95 and a 200-day simple moving average of $52.54. 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 Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The stock has a market capitalization of $51.72 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.25 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last issued its quarterly 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 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 the consensus estimate of $2.01 billion. During the same period last year, the company earned $0.39 earnings per share. Monster Beverage’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts expect 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.