Janney Montgomery Scott LLC Sells 135,058 Shares of Monster Beverage Co. (NASDAQ:MNST)

Janney Montgomery Scott LLC lessened its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 28.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 334,632 shares of the company’s stock after selling 135,058 shares during the period. Janney Montgomery Scott LLC’s holdings in Monster Beverage were worth $17,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MNST. Rehmann Capital Advisory Group boosted its holdings in shares of Monster Beverage by 5.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 6,167 shares of the company’s stock valued at $366,000 after purchasing an additional 345 shares in the last quarter. Duality Advisers LP bought a new position in Monster Beverage in the first quarter valued at about $1,088,000. Empirical Finance LLC raised its stake in Monster Beverage by 3.4% during the first quarter. Empirical Finance LLC now owns 27,202 shares of the company’s stock worth $1,613,000 after acquiring an additional 895 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Monster Beverage by 22.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 72,967 shares of the company’s stock worth $4,325,000 after acquiring an additional 13,287 shares during the last quarter. Finally, Deuterium Capital Management LLC acquired a new stake in shares of Monster Beverage in the 1st quarter valued at approximately $2,483,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST stock opened at $54.11 on Wednesday. The firm has a 50 day moving average of $51.25 and a 200-day moving average of $50.97. The company has a market cap of $53.00 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. 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 52 week low of $43.32 and a 52 week high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion during 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 company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, equities analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MNST shares. Roth Mkm dropped their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. BMO Capital Markets cut their price objective 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. Truist Financial lowered their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Citigroup cut their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group raised their price objective on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Two 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 stock. According to MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.79.

About Monster Beverage

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.