Bridgewater Associates LP lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 186.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,440 shares of the company’s stock after purchasing an additional 13,959 shares during the quarter. Bridgewater Associates LP’s holdings in Monster Beverage Corporation were worth $1,065,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of Monster Beverage Corporation by 42.2% in the 2nd quarter. Huntington National Bank now owns 2,133 shares of the company’s stock valued at $106,000 after purchasing an additional 633 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Monster Beverage Corporation by 11.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after purchasing an additional 232 shares during the period. Dynamic Advisors Solutions LLC acquired a new stake in shares of Monster Beverage Corporation in the 2nd quarter valued at about $202,000. Fiduciary Trust Co. acquired a new stake in shares of Monster Beverage Corporation in the 2nd quarter valued at about $212,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Monster Beverage Corporation by 59.0% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,612 shares of the company’s stock valued at $213,000 after purchasing an additional 1,712 shares during the period. 65.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Monster Beverage Corporation (NASDAQ MNST) opened at 56.18 on Friday. The stock has a market capitalization of $31.92 billion, a P/E ratio of 42.50 and a beta of 0.99. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25. The firm’s 50-day moving average price is $54.65 and its 200 day moving average price is $49.93.
Monster Beverage Corporation (NASDAQ:MNST) last issued its earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The company had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Analysts expect that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
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In other news, Director Sydney Selati sold 10,000 shares of Monster Beverage Corporation stock in a transaction that occurred 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 is accessible through this link. Insiders own 9.40% of the company’s stock.
A number of analysts recently issued reports on the company. Macquarie assumed coverage on Monster Beverage Corporation in a research report on Thursday. They issued an “outperform” rating and a $65.00 target price for the company. Credit Suisse Group reissued an “outperform” rating and issued a $61.00 target price on shares of Monster Beverage Corporation in a research report on Thursday, September 7th. BMO Capital Markets reissued a “buy” rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a research report on Wednesday, September 6th. BidaskClub raised Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Finally, Susquehanna Bancshares Inc reissued a “hold” rating and issued a $42.00 target price (down from $45.00) on shares of Monster Beverage Corporation in a research report on Monday, August 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Monster Beverage Corporation currently has an average rating of “Buy” and an average target price of $56.86.
About Monster Beverage Corporation
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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