Man Group plc reduced its position in shares of Monster Beverage Corp (NASDAQ:MNST) by 13.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,600,217 shares of the company’s stock after selling 564,596 shares during the period. Monster Beverage makes up approximately 0.8% of Man Group plc’s portfolio, making the stock its 11th largest position. Man Group plc owned about 0.66% of Monster Beverage worth $229,802,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Bank & Trust Co raised its holdings in Monster Beverage by 114.3% during the second quarter. Capital Bank & Trust Co now owns 1,020 shares of the company’s stock worth $65,000 after purchasing an additional 544 shares in the last quarter. Viking Global Investors LP purchased a new position in Monster Beverage in the second quarter valued at about $565,020,000. Balyasny Asset Management LLC increased its holdings in Monster Beverage by 771.7% in the second quarter. Balyasny Asset Management LLC now owns 568,254 shares of the company’s stock valued at $36,272,000 after buying an additional 503,067 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Monster Beverage by 259.6% in the second quarter. Mackenzie Financial Corp now owns 86,843 shares of the company’s stock valued at $5,543,000 after buying an additional 62,696 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Monster Beverage by 2.9% in the second quarter. Invesco Ltd. now owns 6,799,956 shares of the company’s stock valued at $434,043,000 after buying an additional 192,832 shares in the last quarter. 66.07% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on MNST. Wells Fargo & Co increased their target price on shares of Monster Beverage from $56.00 to $60.00 and gave the company a “market perform” rating in a report on Wednesday, May 29th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Monster Beverage in a report on Wednesday, August 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 target price (down from $67.00) on shares of Monster Beverage in a report on Thursday, August 8th. ValuEngine cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Finally, BMO Capital Markets dropped their target price on shares of Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.58.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.03). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. On average, analysts anticipate that Monster Beverage Corp will post 2.05 earnings per share for the current fiscal year.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.
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