Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Monster Beverage Corporation (NASDAQ:MNST) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,729 shares of the company’s stock after selling 6,403 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Monster Beverage Corporation were worth $3,681,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. FineMark National Bank & Trust raised its position in shares of Monster Beverage Corporation by 25.7% in the third quarter. FineMark National Bank & Trust now owns 30,590 shares of the company’s stock valued at $3,771,000 after buying an additional 6,261 shares in the last quarter. Cigna Investments Inc. New bought a new position in shares of Monster Beverage Corporation during the fourth quarter valued at approximately $674,000. Federated Investors Inc. PA raised its stake in Monster Beverage Corporation by 36.2% in the fourth quarter. Federated Investors Inc. PA now owns 9,346 shares of the company’s stock worth $414,000 after buying an additional 2,483 shares during the period. Frontier Capital Management Co. LLC raised its stake in Monster Beverage Corporation by 75.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 680,725 shares of the company’s stock worth $30,183,000 after buying an additional 293,058 shares during the period. Finally, Calamos Wealth Management LLC raised its stake in Monster Beverage Corporation by 317.1% in the fourth quarter. Calamos Wealth Management LLC now owns 44,743 shares of the company’s stock worth $1,984,000 after buying an additional 34,016 shares during the period. Hedge funds and other institutional investors own 66.03% of the company’s stock.
Monster Beverage Corporation (NASDAQ MNST) traded down 1.93% on Friday, hitting $50.31. 3,423,241 shares of the company were exchanged. The firm has a 50 day moving average of $48.80 and a 200-day moving average of $45.81. The stock has a market cap of $28.57 billion, a PE ratio of 40.51 and a beta of 0.91. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $55.50.
Monster Beverage Corporation (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $742.10 million for the quarter, compared to analysts’ expectations of $738.54 million. Monster Beverage Corporation had a net margin of 23.36% and a return on equity of 23.36%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. On average, equities analysts expect that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.
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A number of research firms have issued reports on MNST. Credit Suisse Group set a $59.00 target price on shares of Monster Beverage Corporation and gave the stock a “buy” rating in a report on Saturday, May 6th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $57.00 target price on shares of Monster Beverage Corporation in a report on Friday. Jefferies Group LLC reiterated a “buy” rating on shares of Monster Beverage Corporation in a report on Friday. BMO Capital Markets reiterated a “buy” rating on shares of Monster Beverage Corporation in a report on Thursday, April 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $58.00 target price on shares of Monster Beverage Corporation in a report on Friday, May 5th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Monster Beverage Corporation currently has a consensus rating of “Buy” and a consensus price target of $56.71.
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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