Pinebridge Investments L.P. grew its position in shares of Monster Beverage Corp (NASDAQ:MNST) by 103.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,752 shares of the company’s stock after purchasing an additional 60,753 shares during the quarter. Pinebridge Investments L.P.’s holdings in Monster Beverage were worth $7,644,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Monster Beverage by 72.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 371,600 shares of the company’s stock worth $23,719,000 after purchasing an additional 155,750 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Monster Beverage by 3.1% in the 2nd quarter. Raymond James Trust N.A. now owns 5,579 shares of the company’s stock valued at $356,000 after acquiring an additional 169 shares in the last quarter. Burns J W & Co. Inc. NY bought a new stake in shares of Monster Beverage in the 2nd quarter valued at $236,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Monster Beverage in the 2nd quarter valued at $127,000. Finally, USS Investment Management Ltd increased its stake in shares of Monster Beverage by 14.3% in the 1st quarter. USS Investment Management Ltd now owns 2,190,226 shares of the company’s stock valued at $119,521,000 after acquiring an additional 274,111 shares in the last quarter. Hedge funds and other institutional investors own 66.10% of the company’s stock.
MNST has been the subject of several research analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $62.00 price objective (down previously from $67.00) on shares of Monster Beverage in a research note on Thursday, August 8th. UBS Group reiterated a “sell” rating and issued a $52.00 price objective (down previously from $53.00) on shares of Monster Beverage in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Credit Suisse Group reiterated an “outperform” rating and issued a $77.00 price objective on shares of Monster Beverage in a research note on Wednesday, August 28th. Finally, Wells Fargo & Co lifted their price objective on shares of Monster Beverage from $56.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $64.69.
MNST stock traded up $1.41 during midday trading on Friday, reaching $58.86. 3,494,385 shares of the company’s stock traded hands, compared to its average volume of 2,352,556. The company has a market cap of $30.99 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 1.95 and a beta of 1.18. The firm’s fifty day moving average price is $59.29 and its 200-day moving average price is $60.38. Monster Beverage Corp has a 52 week low of $47.74 and a 52 week high of $66.38.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.03). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. On average, equities research analysts anticipate that Monster Beverage Corp will post 2.05 earnings per share for the current year.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.
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