Eagle Asset Management Inc. increased its stake in Monster Beverage Corporation (NASDAQ:MNST) by 84.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 865,563 shares of the company’s stock after buying an additional 397,065 shares during the quarter. Eagle Asset Management Inc. owned about 0.15% of Monster Beverage Corporation worth $43,001,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Alps Advisors Inc. increased its stake in Monster Beverage Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,349 shares of the company’s stock worth $514,000 after purchasing an additional 27 shares during the period. United Capital Financial Advisers LLC increased its stake in Monster Beverage Corporation by 0.4% in the first quarter. United Capital Financial Advisers LLC now owns 9,878 shares of the company’s stock worth $456,000 after purchasing an additional 38 shares during the period. Accuvest Global Advisors increased its stake in Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock worth $510,000 after purchasing an additional 38 shares during the period. Wendell David Associates Inc. increased its stake in Monster Beverage Corporation by 0.9% in the second quarter. Wendell David Associates Inc. now owns 7,264 shares of the company’s stock worth $361,000 after purchasing an additional 64 shares during the period. Finally, IFP Advisors Inc increased its stake in Monster Beverage Corporation by 0.5% in the second quarter. IFP Advisors Inc now owns 12,691 shares of the company’s stock worth $630,000 after purchasing an additional 66 shares during the period. Institutional investors own 65.88% of the company’s stock.
In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the sale, the director now directly owns 52,000 shares in the company, valued at $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.
Several equities analysts have recently commented on MNST shares. Macquarie initiated coverage on Monster Beverage Corporation in a research note on Thursday. They set an “outperform” rating and a $65.00 price target on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $61.00 target price on shares of Monster Beverage Corporation in a research note on Thursday, September 7th. BMO Capital Markets reiterated a “buy” rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a research note on Wednesday, September 6th. BidaskClub upgraded Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $42.00 target price (down previously from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.86.
Monster Beverage Corporation (NASDAQ:MNST) traded down 0.71% during midday trading on Friday, hitting $56.18. The company had a trading volume of 4,345,213 shares. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 42.50 and a beta of 0.99. The firm has a 50-day moving average price of $54.65 and a 200-day moving average price of $49.93. Monster Beverage Corporation has a 12 month low of $40.64 and a 12 month high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last released its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. Equities analysts anticipate that Monster Beverage Corporation will post $1.48 EPS for the current year.
Monster Beverage Corporation Company 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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