Westpac Banking Corp Invests $1.46 Million in Monster Beverage Corporation $MNST

Westpac Banking Corp bought a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 23,301 shares of the company’s stock, valued at approximately $1,460,000.

Other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Monster Beverage by 21.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 186,276 shares of the company’s stock valued at $11,668,000 after purchasing an additional 33,395 shares during the last quarter. Cornerstone Advisors LLC raised its position in shares of Monster Beverage by 43.0% in the 2nd quarter. Cornerstone Advisors LLC now owns 106,700 shares of the company’s stock valued at $6,684,000 after purchasing an additional 32,100 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in shares of Monster Beverage by 55.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 5,467 shares of the company’s stock valued at $342,000 after purchasing an additional 1,956 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in Monster Beverage by 4.4% in the 2nd quarter. Avantax Advisory Services Inc. now owns 67,317 shares of the company’s stock worth $4,217,000 after purchasing an additional 2,866 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Monster Beverage by 9.5% during the 2nd quarter. Intech Investment Management LLC now owns 138,914 shares of the company’s stock worth $8,702,000 after purchasing an additional 12,062 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Up 1.6%

MNST traded up $1.16 during mid-day trading on Monday, hitting $72.47. 263,236 shares of the stock were exchanged, compared to its average volume of 5,936,768. The company has a market cap of $70.80 billion, a PE ratio of 44.99, a PEG ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $72.65. The firm’s fifty day moving average is $67.39 and its two-hundred day moving average is $63.92.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of research analyst reports. Zacks Research raised shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. JPMorgan Chase & Co. upped their price objective on Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Bank of America upped their price target on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Monster Beverage in a report on Thursday, November 6th. Finally, Roth Capital reissued a “neutral” rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.62.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.