Candriam Luxembourg S.C.A. decreased its stake in shares of Monster Beverage Corp. (NASDAQ:MNST) by 93.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,070 shares of the company’s stock after selling 77,716 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Monster Beverage Corp. were worth $815,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. bought a new position in Monster Beverage Corp. during the first quarter valued at approximately $121,000. Meeder Asset Management Inc. boosted its position in 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 position in Monster Beverage Corp. during the second quarter valued at approximately $204,000. Stone Ridge Asset Management LLC bought a new position in Monster Beverage Corp. during the first quarter valued at approximately $280,000. Finally, Seven Eight Capital LLC boosted its position in Monster Beverage Corp. by 120.0% in the first quarter. Seven Eight Capital LLC now owns 2,200 shares of the company’s stock valued at $293,000 after buying an additional 1,200 shares during the last quarter. 67.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Monster Beverage Corp. (NASDAQ:MNST) traded down 0.61% during trading on Friday, reaching $145.84. 646,529 shares of the company traded hands. Monster Beverage Corp. has a 12 month low of $113.08 and a 12 month high of $166.50. The stock’s 50 day moving average price is $150.15 and its 200-day moving average price is $149.22. The stock has a market cap of $27.76 billion, a P/E ratio of 45.52 and a beta of 0.74.
Monster Beverage Corp. (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by $0.04. The company earned $945.80 million during the quarter, compared to the consensus estimate of $804.24 million. Monster Beverage Corp. had a net margin of 22.73% and a return on equity of 15.46%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. On average, equities research analysts expect that Monster Beverage Corp. will post $3.90 EPS for the current fiscal year.
Several research firms have commented on MNST. Stifel Nicolaus raised their target price on shares of Monster Beverage Corp. from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Susquehanna restated a “hold” rating on shares of Monster Beverage Corp. in a research report on Wednesday, September 7th. Credit Agricole SA restated a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Monster Beverage Corp. in a research report on Friday, June 17th. Credit Suisse Group AG assumed coverage on shares of Monster Beverage Corp. in a research report on Thursday, September 15th. They set an “outperform” rating and a $187.00 price objective for the company. Finally, Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Monster Beverage Corp. in a research report on Friday, July 15th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $166.37.
In other news, VP Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was 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 directly owns 5,717 shares of the company’s stock, valued at approximately $912,776.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.20% of the stock is owned by insiders.
About Monster Beverage Corp.
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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