Monster Beverage Corporation (MNST) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,035,130 shares of the company’s stock after selling 12,381 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.18% of Monster Beverage Corporation worth $57,191,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Comerica Bank raised its position in Monster Beverage Corporation by 1.1% in the third quarter. Comerica Bank now owns 99,529 shares of the company’s stock worth $5,656,000 after acquiring an additional 1,076 shares in the last quarter. Bank of New York Mellon Corp raised its position in Monster Beverage Corporation by 19.7% in the third quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock worth $338,810,000 after acquiring an additional 1,008,607 shares in the last quarter. Teacher Retirement System of Texas raised its position in Monster Beverage Corporation by 0.7% in the third quarter. Teacher Retirement System of Texas now owns 231,581 shares of the company’s stock worth $12,795,000 after acquiring an additional 1,541 shares in the last quarter. Toronto Dominion Bank raised its position in Monster Beverage Corporation by 14.7% in the third quarter. Toronto Dominion Bank now owns 156,599 shares of the company’s stock worth $8,651,000 after acquiring an additional 20,070 shares in the last quarter. Finally, Zweig DiMenna Associates LLC raised its position in Monster Beverage Corporation by 57.2% in the third quarter. Zweig DiMenna Associates LLC now owns 113,145 shares of the company’s stock worth $6,251,000 after acquiring an additional 41,182 shares in the last quarter. Hedge funds and other institutional investors own 65.82% of the company’s stock.

Monster Beverage Corporation (MNST) traded down $1.03 on Thursday, hitting $61.60. The company had a trading volume of 3,375,400 shares, compared to its average volume of 2,222,180. The firm has a market capitalization of $35,321.02, a price-to-earnings ratio of 42.60, a P/E/G ratio of 2.23 and a beta of 0.91. Monster Beverage Corporation has a fifty-two week low of $41.02 and a fifty-two week high of $62.80.

Monster Beverage Corporation (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $909.50 million for the quarter, compared to analyst estimates of $903.82 million. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. research analysts predict that Monster Beverage Corporation will post 1.48 earnings per share for the current year.

In related news, Director Sydney Selati sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the sale, the director now owns 52,000 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.40% of the stock is owned by company insiders.

Several research firms have issued reports on MNST. Citigroup Inc. increased their price objective on Monster Beverage Corporation from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Credit Suisse Group cut their price objective on Monster Beverage Corporation from $64.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $65.00 price objective (up previously from $58.00) on shares of Monster Beverage Corporation in a research report on Thursday, November 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Monster Beverage Corporation in a research report on Thursday, November 9th. Finally, Cowen and Company reissued an “outperform” rating and issued a $67.00 target price (up previously from $58.00) on shares of Monster Beverage Corporation in a report on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $58.68.

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Monster Beverage Corporation 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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Institutional Ownership by Quarter for Monster Beverage Corporation (NASDAQ:MNST)

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