New York State Common Retirement Fund cut its stake in Monster Beverage Corporation (NASDAQ:MNST) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,079,454 shares of the company’s stock after selling 92,720 shares during the quarter. New York State Common Retirement Fund owned approximately 0.19% of Monster Beverage worth $59,640,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Trust Group LLC raised its position in shares of Monster Beverage by 4.3% in the second quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock valued at $24,056,000 after purchasing an additional 19,966 shares during the period. BlackRock Inc. raised its position in shares of Monster Beverage by 1.7% in the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock valued at $1,089,848,000 after purchasing an additional 376,666 shares during the period. Cim Investment Mangement Inc. raised its position in shares of Monster Beverage by 250.5% in the second quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock valued at $1,142,000 after purchasing an additional 16,426 shares during the period. Chilton Investment Co. LLC bought a new position in shares of Monster Beverage in the second quarter valued at about $35,322,000. Finally, Skylands Capital LLC bought a new position in shares of Monster Beverage in the third quarter valued at about $276,000. 65.88% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the stock. Jefferies Group raised their price target on shares of Monster Beverage from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $57.00 price target on shares of Monster Beverage in a research report on Saturday, September 23rd. Credit Suisse Group lowered shares of Monster Beverage to a “hold” rating in a research report on Friday, September 8th. Cowen reaffirmed an “outperform” rating and set a $67.00 price target (up from $58.00) on shares of Monster Beverage in a research report on Thursday, November 9th. Finally, Citigroup lowered shares of Monster Beverage to a “neutral” rating and lowered their price target for the stock from $56.00 to $51.00 in a research report on Monday, November 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.24.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $909.50 million for the quarter, compared to the consensus estimate 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 for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. equities research analysts expect that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.
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Monster Beverage 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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