Monster Beverage Corporation (MNST) Stake Lifted by ProShare Advisors LLC
ProShare Advisors LLC lifted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 18.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 194,581 shares of the company’s stock after purchasing an additional 29,859 shares during the quarter. ProShare Advisors LLC’s holdings in Monster Beverage Corporation were worth $9,667,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Huntington National Bank grew its stake in shares of Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after purchasing an additional 633 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Monster Beverage Corporation by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after purchasing an additional 232 shares in the last quarter. Dynamic Advisors Solutions LLC bought a new position in shares of Monster Beverage Corporation in the second quarter worth $202,000. Fiduciary Trust Co. bought a new position in shares of Monster Beverage Corporation in the second quarter worth $212,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in shares of Monster Beverage Corporation by 59.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,612 shares of the company’s stock worth $213,000 after purchasing an additional 1,712 shares in the last quarter. 65.89% of the stock is owned by institutional investors.
MNST has been the subject of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $58.00 price target on shares of Monster Beverage Corporation in a research note on Friday, June 9th. Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $42.00 target price (down previously from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. BidaskClub raised Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research cut Monster Beverage Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $61.00 target price on shares of Monster Beverage Corporation in a research note on Thursday, September 7th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $56.86.
In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the director now directly owns 52,000 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.40% of the stock is currently owned by insiders.
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Shares of Monster Beverage Corporation (NASDAQ MNST) traded up 0.0002% during midday trading on Monday, reaching $56.1801. The company had a trading volume of 67,785 shares. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $57.25. The firm has a market cap of $31.92 billion, a P/E ratio of 42.4963 and a beta of 0.99. The company’s 50-day moving average is $54.65 and its 200-day moving average is $49.93.
Monster Beverage Corporation (NASDAQ:MNST) last posted its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
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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