Gateway Investment Advisers LLC Has $22.94 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

Gateway Investment Advisers LLC trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,697 shares of the company’s stock after selling 4,012 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Monster Beverage were worth $22,939,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MNST. Secured Retirement Advisors LLC bought a new position in Monster Beverage in the 4th quarter valued at about $955,000. Wellington Wealth Strategies LLC. bought a new stake in Monster Beverage during the fourth quarter worth $1,944,000. Clarity Capital Partners LLC purchased a new stake in Monster Beverage in the 4th quarter valued at $914,000. Chicago Partners Investment Group LLC bought a new position in Monster Beverage during the 4th quarter valued at $211,000. Finally, Cim LLC purchased a new position in Monster Beverage during the 4th quarter worth $16,114,000. 72.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MNST shares. Piper Sandler lowered their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. BMO Capital Markets reduced their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Truist Financial lowered 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.84.

Monster Beverage Trading Up 1.1 %

NASDAQ MNST traded up $0.54 during trading on Friday, hitting $51.31. 6,945,656 shares of the company’s stock traded hands, compared to its average volume of 7,068,472. The firm has a market cap of $53.45 billion, a P/E ratio of 32.27, a PEG ratio of 2.29 and a beta of 0.74. The stock has a fifty day moving average of $49.23 and a two-hundred day moving average of $51.38. 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 Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter 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 EPS 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.