Monster Beverage Corporation $MNST Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 176.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,570 shares of the company’s stock after purchasing an additional 69,920 shares during the period. Quantbot Technologies LP’s holdings in Monster Beverage were worth $6,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MNST. Access Investment Management LLC purchased a new position in shares of Monster Beverage during the 2nd quarter valued at approximately $25,000. Salomon & Ludwin LLC bought a new position in Monster Beverage during the 2nd quarter valued at $28,000. Golden State Wealth Management LLC grew its holdings in Monster Beverage by 647.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock worth $35,000 after acquiring an additional 479 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at about $38,000. Finally, Westside Investment Management Inc. lifted its position in shares of Monster Beverage by 35.6% during the second quarter. Westside Investment Management Inc. now owns 865 shares of the company’s stock worth $54,000 after purchasing an additional 227 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price (up previously from $74.00) on shares of Monster Beverage in a report on Friday, November 7th. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research raised shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company lifted their target price on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.19.

Monster Beverage Stock Down 1.6%

Monster Beverage stock opened at $74.71 on Wednesday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $76.28. The firm has a market capitalization of $72.99 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 2.31 and a beta of 0.53. The firm has a 50-day moving average price of $69.66 and a two-hundred day moving average price of $65.01.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Guy Carling sold 38,438 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider directly owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This represents a 63.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.30% of the stock is owned by insiders.

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.