Toronto Dominion Bank Has $6.78 Million Position in Monster Beverage Corporation (MNST)

Toronto Dominion Bank lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 25.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,529 shares of the company’s stock after purchasing an additional 27,994 shares during the period. Toronto Dominion Bank’s holdings in Monster Beverage Corporation were worth $6,782,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Atlantic Trust Group LLC increased its holdings in shares of Monster Beverage Corporation by 4.3% in the second quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock valued at $24,056,000 after purchasing an additional 19,966 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Monster Beverage Corporation by 1.7% in the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock valued at $1,089,848,000 after purchasing an additional 376,666 shares in the last quarter. Cim Investment Mangement Inc. increased its holdings in shares of Monster Beverage Corporation by 250.5% in the second quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock valued at $1,142,000 after purchasing an additional 16,426 shares in the last quarter. Chilton Investment Co. LLC acquired a new stake in shares of Monster Beverage Corporation in the second quarter valued at approximately $35,322,000. Finally, Calamos Advisors LLC increased its holdings in shares of Monster Beverage Corporation by 7.5% in the second quarter. Calamos Advisors LLC now owns 652,398 shares of the company’s stock valued at $32,411,000 after purchasing an additional 45,469 shares in the last quarter. 65.87% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Corporation (NASDAQ:MNST) remained flat at $56.75 on Friday. The stock had a trading volume of 1,647,748 shares. Monster Beverage Corporation has a 12 month low of $40.64 and a 12 month high of $57.25. The stock has a market capitalization of $32.24 billion, a price-to-earnings ratio of 42.93 and a beta of 1.02. The firm’s 50 day moving average price is $55.92 and its 200 day moving average price is $51.86.

Monster Beverage Corporation (NASDAQ:MNST) last posted its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). The company had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. Monster Beverage Corporation’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. On average, equities research analysts expect that Monster Beverage Corporation will post $1.48 EPS for the current year.

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A number of equities analysts have issued reports on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Friday. Macquarie assumed coverage on shares of Monster Beverage Corporation in a research note on Thursday, September 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Monster Beverage Corporation in a research note on Thursday, September 7th. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Wednesday, September 6th. Finally, Citigroup Inc. set a $60.00 price target on shares of Monster Beverage Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.06.

In other news, Director Sydney Selati sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is owned by corporate insiders.

Monster Beverage Corporation Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

Institutional Ownership by Quarter for Monster Beverage Corporation (NASDAQ:MNST)

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