National Pension Service boosted its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 439,096 shares of the company’s stock after buying an additional 1,935 shares during the period. National Pension Service owned 0.08% of Monster Beverage worth $25,591,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Monster Beverage by 1.2% during the 3rd quarter. BlackRock Inc. now owns 24,111,145 shares of the company’s stock valued at $1,405,199,000 after purchasing an additional 279,364 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Monster Beverage by 1.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 24,002,010 shares of the company’s stock valued at $1,398,837,000 after purchasing an additional 347,332 shares during the last quarter. Alliancebernstein L.P. lifted its holdings 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 valued at $720,297,000 after purchasing an additional 3,961,104 shares during the last quarter. Voya Investment Management LLC lifted its holdings 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 valued at $313,346,000 after purchasing an additional 1,071,066 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings 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 valued at $286,039,000 after purchasing an additional 121,766 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.
Several analysts have recently commented on MNST shares. Morgan Stanley lowered Monster Beverage from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $50.02 to $57.00 in a report on Thursday, November 8th. ValuEngine lowered Monster Beverage from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday, November 14th. UBS Group started coverage on Monster Beverage in a research note on Thursday. They issued a “sell” rating and a $48.00 target price for the company. Finally, Citigroup set a $64.00 target price on Monster Beverage and gave the stock a “buy” rating in a research note on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.47.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $988.73 million. Monster Beverage had a return on equity of 25.47% and a net margin of 25.86%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, analysts forecast that Monster Beverage Corp will post 1.77 earnings per share for the current fiscal year.
In other Monster Beverage news, Director Harold C. Taber, Jr. sold 9,000 shares of the stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $54.55, for a total transaction of $490,950.00. Following the sale, the director now directly owns 77,238 shares of the company’s stock, valued at approximately $4,213,332.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas J. Kelly sold 14,661 shares of the stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $53.73, for a total value of $787,735.53. Following the sale, the executive vice president now directly owns 24,312 shares in the company, valued at $1,306,283.76. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.
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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