Carillon Tower Advisers Inc. grew its stake in Monster Beverage Corp (NASDAQ:MNST) by 14.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,293,374 shares of the company’s stock after buying an additional 162,291 shares during the quarter. Carillon Tower Advisers Inc.’s holdings in Monster Beverage were worth $75,377,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Monster Beverage by 1.2% in the 3rd quarter. BlackRock Inc. now owns 24,111,145 shares of the company’s stock worth $1,405,199,000 after purchasing an additional 279,364 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Monster Beverage by 47.2% during the 3rd quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock worth $720,297,000 after buying an additional 3,961,104 shares during the period. Voya Investment Management LLC raised its stake in shares of Monster Beverage by 24.4% during the 2nd quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after buying an additional 1,071,066 shares during the period. Northern Trust Corp raised its stake in shares of Monster Beverage by 2.5% during the 2nd quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after buying an additional 121,766 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Monster Beverage by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 4,427,388 shares of the company’s stock worth $253,689,000 after buying an additional 423,841 shares during the period. Institutional investors and hedge funds own 63.49% of the company’s stock.
In related news, insider Emelie Tirre sold 17,000 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $60.91, for a total value of $1,035,470.00. Following the completion of the transaction, the insider now directly owns 46,847 shares of the company’s stock, valued at approximately $2,853,450.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.70% of the stock is currently owned by corporate insiders.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Monster Beverage had a return on equity of 25.47% and a net margin of 25.86%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $988.73 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Monster Beverage Corp will post 1.77 earnings per share for the current year.
Monster Beverage declared that its board has approved a stock buyback plan on Wednesday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Several research analysts have recently weighed in on MNST shares. ValuEngine downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. JPMorgan Chase & Co. reduced their target price on Monster Beverage from $64.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 24th. Guggenheim started coverage on Monster Beverage in a research note on Thursday, September 13th. They set a “buy” rating and a $72.00 target price for the company. BidaskClub downgraded Monster Beverage from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Finally, Zacks Investment Research downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, October 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Monster Beverage currently has a consensus rating of “Buy” and a consensus target price of $63.38.
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Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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