Tokio Marine Asset Management Co. Ltd. cut its position in Monster Beverage Corp. (NASDAQ:MNST) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 4,260 shares of the company’s stock after selling 173 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Monster Beverage Corp. were worth $685,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new position in Monster Beverage Corp. during the first quarter worth $121,000. Meeder Asset Management Inc. boosted its stake in shares of Monster Beverage Corp. by 1,798.1% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the company’s stock valued at $132,000 after buying an additional 935 shares during the last quarter. Genesee Valley Trust Co. bought a new stake in shares of Monster Beverage Corp. during the second quarter valued at about $204,000. First Quadrant L P CA boosted its stake in shares of Monster Beverage Corp. by 25.0% in the second quarter. First Quadrant L P CA now owns 2,000 shares of the company’s stock valued at $321,000 after buying an additional 400 shares during the last quarter. Finally, Stone Ridge Asset Management LLC bought a new stake in shares of Monster Beverage Corp. during the first quarter valued at about $280,000. Hedge funds and other institutional investors own 67.42% of the company’s stock.
Monster Beverage Corp. (NASDAQ:MNST) traded down 0.61% during trading on Friday, reaching $145.84. 646,529 shares of the company’s stock were exchanged. The company’s 50-day moving average is $150.15 and its 200-day moving average is $149.22. The company has a market capitalization of $27.76 billion, a PE ratio of 45.52 and a beta of 0.74. Monster Beverage Corp. has a 1-year low of $113.08 and a 1-year high of $166.50.
Monster Beverage Corp. (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by $0.04. The firm earned $945.80 million during the quarter, compared to analysts’ expectations of $804.24 million. Monster Beverage Corp. had a net margin of 22.73% and a return on equity of 15.46%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. Equities research analysts expect that Monster Beverage Corp. will post $3.90 earnings per share for the current fiscal year.
A number of analysts have recently commented on MNST shares. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $172.00 target price (down previously from $173.00) on shares of Monster Beverage Corp. in a research report on Wednesday, June 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Monster Beverage Corp. in a research report on Monday, June 27th. Credit Agricole SA reiterated a “buy” rating and set a $185.00 target price (up previously from $175.00) on shares of Monster Beverage Corp. in a research report on Friday, June 17th. Stifel Nicolaus reissued a “buy” rating and set a $165.00 price target on shares of Monster Beverage Corp. in a report on Wednesday, June 15th. Finally, BMO Capital Markets reissued a “buy” rating and set a $160.00 price target on shares of Monster Beverage Corp. in a report on Wednesday, June 15th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $166.37.
In other Monster Beverage Corp. news, VP Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total value of $1,596,600.00. Following the completion of the sale, the vice president now owns 5,717 shares in the company, valued at approximately $912,776.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.20% of the stock is currently owned by company insiders.
Monster Beverage Corp. 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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