BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 15.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 183,752 shares of the company’s stock after selling 34,303 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Monster Beverage were worth $10,709,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MNST. Harvest Fund Management Co. Ltd boosted its position in Monster Beverage by 287.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock worth $111,000 after purchasing an additional 1,409 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in Monster Beverage during the second quarter worth $123,000. Honkamp Krueger Financial Services Inc. purchased a new stake in Monster Beverage during the third quarter worth $129,000. Valeo Financial Advisors LLC purchased a new stake in Monster Beverage during the second quarter worth $181,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Monster Beverage in the second quarter valued at $175,000. 64.23% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on MNST shares. Jefferies Financial Group restated a “buy” rating and issued a $71.00 price objective on shares of Monster Beverage in a research report on Thursday, November 8th. Stifel Nicolaus upped their price objective on Monster Beverage from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Guggenheim started coverage on Monster Beverage in a research report on Thursday, September 13th. They issued a “buy” rating and a $72.00 price objective on the stock. BidaskClub upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Finally, Citigroup upped their price objective on Monster Beverage from $62.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.38.
Shares of NASDAQ:MNST opened at $58.27 on Friday. Monster Beverage Corp has a 52-week low of $47.61 and a 52-week high of $70.21. The firm has a market capitalization of $31.98 billion, a PE ratio of 39.28, a P/E/G ratio of 2.04 and a beta of 1.39.
Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $988.73 million. Monster Beverage had a return on equity of 25.47% and a net margin of 25.86%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Monster Beverage Corp will post 1.77 EPS for the current fiscal year.
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Monster Beverage Profile
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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