Monster Beverage Co. (NASDAQ:MNST) Shares Acquired by Assenagon Asset Management S.A.

by · The Markets Daily

Assenagon Asset Management S.A. raised its position in Monster Beverage Co. (NASDAQ:MNST – Free Report) by 1,148.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,596,888 shares of the company’s stock after buying an additional 2,388,798 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.25% of Monster Beverage worth $135,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in Monster Beverage in the first quarter valued at $26,000. Stephens Consulting LLC purchased a new position in shares of Monster Beverage during the 2nd quarter valued at approximately $26,000. Kings Path Partners LLC acquired a new position in Monster Beverage in the second quarter worth about $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage during the second quarter worth $30,000. Finally, Crewe Advisors LLC bought a new stake in shares of Monster Beverage in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ:MNST traded down $0.05 on Thursday, hitting $53.51. The company’s stock had a trading volume of 1,723,456 shares, compared to its average volume of 6,981,063. The company has a market capitalization of $55.74 billion, a PE ratio of 33.69, a PEG ratio of 2.29 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. The company has a 50-day simple moving average of $50.13 and a 200 day simple moving average of $51.09. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST – Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. Sell-side analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MNST shares. BMO Capital Markets dropped 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. Piper Sandler lowered 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. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group increased their price objective on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group reduced their price target on shares of 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, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.68.

Read Our Latest Report on MNST

About Monster Beverage

(Free Report)

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.

See Also

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