Bank of Montreal Can cut its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 38.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,288 shares of the company’s stock after selling 114,692 shares during the period. Bank of Montreal Can’s holdings in Monster Beverage Corporation were worth $9,105,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MNST. Gateway Investment Advisers LLC raised its stake in Monster Beverage Corporation by 3.4% in the first quarter. Gateway Investment Advisers LLC now owns 437,514 shares of the company’s stock worth $20,200,000 after buying an additional 14,454 shares during the period. Cim LLC increased its position in shares of Monster Beverage Corporation by 0.8% in the first quarter. Cim LLC now owns 168,993 shares of the company’s stock worth $7,803,000 after buying an additional 1,274 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Monster Beverage Corporation during the first quarter worth about $1,043,000. National Pension Service increased its position in shares of Monster Beverage Corporation by 0.8% in the first quarter. National Pension Service now owns 334,467 shares of the company’s stock worth $15,472,000 after buying an additional 2,800 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Monster Beverage Corporation by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 351,455 shares of the company’s stock worth $16,227,000 after buying an additional 8,583 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.
Monster Beverage Corporation (NASDAQ MNST) opened at 53.82 on Friday. The stock has a market capitalization of $30.58 billion, a price-to-earnings ratio of 40.71 and a beta of 0.96. Monster Beverage Corporation has a one year low of $40.64 and a one year high of $161.74. The company has a 50-day moving average of $51.84 and a 200-day moving average of $47.82.
Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $907.07 million for the quarter, compared to analysts’ expectations of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, equities analysts forecast that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on MNST. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $42.00 price objective (down from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Jefferies Group LLC increased their price objective on Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. Credit Suisse Group set a $61.00 target price on Monster Beverage Corporation and gave the company an “outperform” rating in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a report on Wednesday. Finally, Zacks Investment Research lowered Monster Beverage Corporation from a “buy” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Monster Beverage Corporation has an average rating of “Buy” and an average price target of $56.28.
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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