IFP Advisors Inc decreased its position in shares of Monster Beverage Corp (NASDAQ:MNST) by 30.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,572 shares of the company’s stock after selling 1,124 shares during the period. IFP Advisors Inc’s holdings in Monster Beverage were worth $150,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Monster Beverage by 2.6% in the 2nd quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock worth $1,365,558,000 after purchasing an additional 604,939 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Monster Beverage by 24.4% in the 2nd quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after purchasing an additional 1,071,066 shares during the last quarter. Northern Trust Corp increased its position in shares of Monster Beverage by 2.5% in the 2nd quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after purchasing an additional 121,766 shares during the last quarter. American Century Companies Inc. increased its position in shares of Monster Beverage by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 4,427,388 shares of the company’s stock worth $253,689,000 after purchasing an additional 423,841 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Monster Beverage by 414.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock worth $245,188,000 after purchasing an additional 3,447,585 shares during the last quarter. 65.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:MNST opened at $56.84 on Friday. Monster Beverage Corp has a fifty-two week low of $47.61 and a fifty-two week high of $70.21. The stock has a market cap of $29.91 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 1.93 and a beta of 1.36.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $988.73 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts expect that Monster Beverage Corp will post 1.76 earnings per share for the current year.
Monster Beverage announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Emelie Tirre sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the completion of the sale, the insider now owns 46,847 shares of the company’s stock, valued at approximately $2,853,450.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.70% of the stock is owned by corporate insiders.
MNST has been the subject of several research analyst reports. BidaskClub raised shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 17th. BMO Capital Markets boosted their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, July 19th. Zacks Investment Research raised shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Friday, July 20th. Jefferies Financial Group boosted their target price on shares of Monster Beverage from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Citigroup boosted their target price on shares of Monster Beverage from $62.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $63.63.
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About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its 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 drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes 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; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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