Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its holdings in Monster Beverage Corp (NASDAQ:MNST) by 42.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,541 shares of the company’s stock after selling 10,720 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Monster Beverage were worth $791,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of MNST. JPMorgan Chase & Co. boosted its holdings in Monster Beverage by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 3,190,474 shares of the company’s stock valued at $185,941,000 after purchasing an additional 59,507 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in Monster Beverage by 13.2% in the third quarter. Standard Life Aberdeen plc now owns 110,933 shares of the company’s stock valued at $6,466,000 after purchasing an additional 12,922 shares in the last quarter. Kepos Capital LP acquired a new position in Monster Beverage in the third quarter valued at approximately $2,669,000. Legal & General Group Plc boosted its holdings in Monster Beverage by 3.5% in the third quarter. Legal & General Group Plc now owns 1,989,865 shares of the company’s stock valued at $115,966,000 after purchasing an additional 67,998 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Monster Beverage by 41.1% in the third quarter. Morgan Stanley now owns 1,188,361 shares of the company’s stock valued at $69,259,000 after purchasing an additional 346,276 shares in the last quarter. 65.00% of the stock is currently owned by institutional investors.
MNST has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Monster Beverage from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Credit Suisse Group set a $77.00 price objective on Monster Beverage and gave the company a “buy” rating in a report on Friday, May 3rd. ValuEngine raised Monster Beverage from a “hold” rating to a “buy” rating in a report on Monday, May 13th. BidaskClub downgraded Monster Beverage from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Finally, Citigroup restated a “buy” rating and set a $72.00 price target on shares of Monster Beverage in a research note on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Monster Beverage currently has a consensus rating of “Hold” and an average target price of $63.03.
Shares of Monster Beverage stock traded up $0.19 during trading hours on Friday, hitting $63.42. 1,279,052 shares of the company were exchanged, compared to its average volume of 4,083,621. Monster Beverage Corp has a 1 year low of $47.74 and a 1 year high of $66.38. The stock has a market capitalization of $34.37 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.53.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The business had revenue of $946.00 million during the quarter, compared to analysts’ expectations of $919.49 million. Monster Beverage had a return on equity of 28.35% and a net margin of 26.61%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Sell-side analysts expect that Monster Beverage Corp will post 2.07 EPS for the current fiscal year.
In other Monster Beverage news, Director Harold C. Taber, Jr. sold 11,772 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.58, for a total value of $748,463.76. Following the completion of the transaction, the director now owns 72,240 shares in the company, valued at $4,593,019.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emelie Tirre sold 24,762 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $62.97, for a total value of $1,559,263.14. Following the completion of the transaction, the insider now owns 77,363 shares of the company’s stock, valued at approximately $4,871,548.11. The disclosure for this sale can be found here. Insiders sold 481,356 shares of company stock valued at $29,678,733 in the last quarter. 9.70% of the stock is currently owned by company insiders.
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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