Monster Beverage Corporation (MNST) Position Lessened by UBS Oconnor LLC
UBS Oconnor LLC decreased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 5.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 157,669 shares of the company’s stock after selling 9,106 shares during the period. UBS Oconnor LLC’s holdings in Monster Beverage Corporation were worth $7,833,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in MNST. BlackRock Inc. lifted its stake in shares of Monster Beverage Corporation by 1,887.5% during the first quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock valued at $995,459,000 after buying an additional 20,475,879 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Monster Beverage Corporation by 297.8% during the first quarter. Renaissance Technologies LLC now owns 1,804,200 shares of the company’s stock valued at $83,300,000 after buying an additional 1,350,700 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Monster Beverage Corporation by 6,737.7% during the second quarter. Harbour Capital Advisors LLC now owns 890,266 shares of the company’s stock valued at $17,920,000 after buying an additional 877,246 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Monster Beverage Corporation during the first quarter valued at approximately $40,417,000. Finally, Vanguard Group Inc. lifted its stake in shares of Monster Beverage Corporation by 3.0% during the first quarter. Vanguard Group Inc. now owns 27,660,996 shares of the company’s stock valued at $1,277,108,000 after buying an additional 799,703 shares during the period. 65.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the sale, the director now directly owns 52,000 shares in the company, valued at $2,912,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.40% of the company’s stock.
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Monster Beverage Corporation (NASDAQ MNST) traded down 0.41% during midday trading on Friday, hitting $55.25. 2,133,126 shares of the stock traded hands. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25. The firm has a market cap of $31.39 billion, a P/E ratio of 41.79 and a beta of 0.99. The company has a 50-day moving average price of $54.84 and a 200-day moving average price of $50.17.
Monster Beverage Corporation (NASDAQ:MNST) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share. Analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current year.
Several brokerages recently issued reports on MNST. Zacks Investment Research downgraded shares of Monster Beverage Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Susquehanna Bancshares Inc reissued a “hold” rating and set a $42.00 price objective (down previously from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Cowen and Company reissued an “outperform” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Thursday, June 22nd. BMO Capital Markets reissued a “buy” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Wednesday, September 6th. Finally, Jefferies Group LLC upped their price objective on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target 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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