Caisse DE Depot ET Placement DU Quebec trimmed its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 33.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,743 shares of the company’s stock after selling 21,500 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Monster Beverage were worth $2,371,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of MNST. Commonwealth Bank of Australia boosted its stake in shares of Monster Beverage by 11.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after buying an additional 232 shares during the last quarter. Liberty Capital Management Inc. lifted its stake in Monster Beverage by 2,028.0% in the 3rd quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock valued at $120,000 after purchasing an additional 2,028 shares during the last quarter. Sun Life Financial INC lifted its stake in Monster Beverage by 29,250.0% in the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock valued at $146,000 after purchasing an additional 2,925 shares during the last quarter. Bessemer Group Inc. lifted its stake in Monster Beverage by 397.6% in the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after purchasing an additional 2,143 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Monster Beverage in the 3rd quarter valued at about $182,000. Institutional investors own 65.88% of the company’s stock.
MNST has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $58.00 target price on shares of Monster Beverage in a research note on Thursday, November 2nd. Jefferies Group reiterated a “buy” rating and issued a $64.00 target price on shares of Monster Beverage in a research note on Thursday, November 9th. Susquehanna Bancshares downgraded shares of Monster Beverage from a “neutral” rating to a “negative” rating and set a $51.00 target price for the company. in a research note on Monday, November 20th. Credit Suisse Group downgraded shares of Monster Beverage to a “hold” rating in a research note on Friday, September 8th. Finally, BidaskClub upgraded shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $59.24.
Monster Beverage Corporation (NASDAQ MNST) opened at $62.91 on Wednesday. The firm has a market cap of $35,495.85, a PE ratio of 42.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94. Monster Beverage Corporation has a fifty-two week low of $41.02 and a fifty-two week high of $63.54.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $909.50 million for the quarter, compared to analysts’ expectations of $903.82 million. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. equities analysts anticipate that Monster Beverage Corporation will post 1.48 EPS for the current year.
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Monster Beverage 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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