Stifel Financial Corp lifted its position in shares of Monster Beverage Corp (NASDAQ:MNST) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,485 shares of the company’s stock after purchasing an additional 16,208 shares during the quarter. Stifel Financial Corp’s holdings in Monster Beverage were worth $10,091,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen Asset Management LLC lifted its position in shares of Monster Beverage by 7,920.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock valued at $580,817,000 after buying an additional 8,985,980 shares in the last quarter. Viking Global Investors LP purchased a new position in shares of Monster Beverage during the 2nd quarter valued at approximately $565,020,000. Renaissance Technologies LLC lifted its position in shares of Monster Beverage by 19.6% during the 2nd quarter. Renaissance Technologies LLC now owns 8,624,004 shares of the company’s stock valued at $550,470,000 after buying an additional 1,413,700 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Monster Beverage by 39.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,795,737 shares of the company’s stock valued at $306,112,000 after buying an additional 1,345,673 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Monster Beverage by 124.8% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,322,828 shares of the company’s stock valued at $84,436,000 after buying an additional 734,404 shares in the last quarter. 65.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of MNST stock opened at $59.81 on Tuesday. The stock’s fifty day moving average is $57.54 and its two-hundred day moving average is $60.21. The firm has a market capitalization of $32.16 billion, a P/E ratio of 33.41, a PEG ratio of 2.06 and a beta of 1.16. Monster Beverage Corp has a fifty-two week low of $47.74 and a fifty-two week high of $66.38.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Monster Beverage had a return on equity of 28.23% and a net margin of 26.58%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. As a group, equities research analysts predict that Monster Beverage Corp will post 2.04 earnings per share for the current year.
A number of research analysts have recently issued reports on the company. BidaskClub lowered Monster Beverage from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Wells Fargo & Co decreased their target price on Monster Beverage from $59.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on Monster Beverage from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada set a $75.00 target price on Monster Beverage and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Guggenheim lowered Monster Beverage from a “buy” rating to a “neutral” rating and decreased their target price for the company from $74.00 to $60.00 in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $64.80.
In other Monster Beverage news, EVP Thomas J. Kelly sold 33,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $60.07, for a total value of $1,982,310.00. Following the transaction, the executive vice president now owns 58,249 shares in the company, valued at approximately $3,499,017.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 10,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $58.58, for a total value of $615,090.00. Following the completion of the transaction, the insider now owns 63,101 shares in the company, valued at approximately $3,696,456.58. The disclosure for this sale can be found here. Company insiders own 10.20% of the company’s stock.
Monster Beverage 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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