Laurel Wealth Advisors Inc. bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,594 shares of the company’s stock, valued at approximately $253,000.
Other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC grew its holdings in Monster Beverage by 39.5% in the 3rd quarter. Janus Henderson Group PLC now owns 103,578 shares of the company’s stock valued at $5,721,000 after buying an additional 29,305 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in Monster Beverage in the 3rd quarter valued at $1,120,000. Cornerstone Capital Management Holdings LLC. grew its holdings in Monster Beverage by 2.5% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 71,242 shares of the company’s stock valued at $3,935,000 after buying an additional 1,710 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its holdings in Monster Beverage by 4.1% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 365,309 shares of the company’s stock valued at $20,183,000 after buying an additional 14,475 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in Monster Beverage by 163.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,173,475 shares of the company’s stock valued at $64,834,000 after buying an additional 728,295 shares in the last quarter. 65.88% of the stock is currently owned by institutional investors and hedge funds.
MNST has been the topic of a number of research reports. BidaskClub raised Monster Beverage from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage in a report on Wednesday, September 6th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Monster Beverage in a report on Thursday, September 7th. Macquarie initiated coverage on Monster Beverage in a report on Thursday, September 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Monster Beverage in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $59.24.
Shares of Monster Beverage Corporation (MNST) opened at $63.22 on Monday. The stock has a market capitalization of $35,650.00, a price-to-earnings ratio of 43.01, a PEG ratio of 2.25 and a beta of 0.94. Monster Beverage Corporation has a 1-year low of $41.02 and a 1-year high of $63.54.
Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $909.50 million for the quarter, compared to analyst estimates of $903.82 million. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. Monster Beverage’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. equities research analysts anticipate that Monster Beverage Corporation will post 1.48 EPS for the current year.
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Monster Beverage 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.
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