QS Investors LLC lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 16.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,413 shares of the company’s stock after selling 5,436 shares during the period. QS Investors LLC’s holdings in Monster Beverage were worth $1,412,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. Huntington National Bank grew its position in shares of Monster Beverage by 42.2% in the 2nd quarter. Huntington National Bank now owns 2,133 shares of the company’s stock valued at $106,000 after buying an additional 633 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in shares of Monster Beverage by 11.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after purchasing an additional 232 shares during the period. Dynamic Advisors Solutions LLC acquired a new position in shares of Monster Beverage in the 2nd quarter valued at about $202,000. Fiduciary Trust Co. acquired a new position in shares of Monster Beverage in the 2nd quarter valued at about $212,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Monster Beverage by 59.0% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,612 shares of the company’s stock valued at $213,000 after purchasing an additional 1,712 shares during the period. Hedge funds and other institutional investors own 65.89% of the company’s stock.
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MNST has been the topic of a number of recent analyst reports. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $42.00 price objective (down from $45.00) on shares of Monster Beverage in a research note on Monday, August 7th. BidaskClub raised Monster Beverage from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Credit Suisse Group reaffirmed an “outperform” rating and set a $61.00 price target on shares of Monster Beverage in a research note on Thursday, September 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Monster Beverage in a research note on Friday, June 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.86.
Monster Beverage Co. (NASDAQ:MNST) opened at 55.36 on Wednesday. Monster Beverage Co. has a 52 week low of $40.64 and a 52 week high of $57.25. The stock’s 50 day moving average price is $55.71 and its 200-day moving average price is $51.10. The company has a market capitalization of $31.45 billion, a PE ratio of 41.88 and a beta of 1.02.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage had a net margin of 23.98% and a return on equity of 22.96%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, equities research analysts predict that Monster Beverage Co. will post $1.48 earnings per share for the current fiscal year.
In related news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the transaction, the director now directly owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.
Monster Beverage Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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