Ameriprise Financial Inc. cut its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,137,697 shares of the company’s stock after selling 104,284 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.43% of Monster Beverage worth $449,610,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Atlantic Trust Group LLC lifted its position in Monster Beverage by 4.3% during the 2nd quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock worth $24,056,000 after buying an additional 19,966 shares in the last quarter. BlackRock Inc. lifted its position in Monster Beverage by 1.7% during the 2nd quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after buying an additional 376,666 shares in the last quarter. Cim Investment Mangement Inc. lifted its position in Monster Beverage by 250.5% during the 2nd quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock worth $1,142,000 after buying an additional 16,426 shares in the last quarter. Chilton Investment Co. LLC bought a new stake in Monster Beverage during the 2nd quarter worth about $35,322,000. Finally, Skylands Capital LLC bought a new stake in Monster Beverage during the 3rd quarter worth about $276,000. 65.88% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on MNST. Jefferies Group boosted their price target on shares of Monster Beverage from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $57.00 price target on shares of Monster Beverage in a research report on Saturday, September 23rd. Credit Suisse Group cut shares of Monster Beverage to a “hold” rating in a research report on Friday, September 8th. Cowen reaffirmed an “outperform” rating and issued a $67.00 target price (up from $58.00) on shares of Monster Beverage in a report on Thursday, November 9th. Finally, Citigroup cut shares of Monster Beverage to a “neutral” rating and dropped their target price for the company from $56.00 to $51.00 in a report on Monday, November 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Monster Beverage currently has an average rating of “Buy” and a consensus target price of $59.24.
Shares of Monster Beverage Corporation (NASDAQ:MNST) traded down $0.97 on Thursday, reaching $62.30. 2,356,220 shares of the company were exchanged, compared to its average volume of 2,209,792. Monster Beverage Corporation has a twelve month low of $41.02 and a twelve month high of $63.54. The firm has a market cap of $35,557.89, a price-to-earnings ratio of 42.89, a P/E/G ratio of 2.25 and a beta of 0.94.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The business had revenue of $909.50 million for the quarter, compared to analyst estimates of $903.82 million. During the same quarter in the prior year, the business earned $0.34 EPS. Monster Beverage’s quarterly revenue was up 15.4% on a year-over-year basis. equities research analysts predict that Monster Beverage Corporation will post 1.48 EPS for the current year.
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About Monster Beverage
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.
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