Monster Beverage Corporation (MNST) Position Boosted by Westpac Banking Corp
Westpac Banking Corp boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 15.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,018 shares of the company’s stock after acquiring an additional 3,778 shares during the quarter. Westpac Banking Corp’s holdings in Monster Beverage Corporation were worth $1,548,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of MNST. Liberty Capital Management Inc. lifted its holdings in shares of Monster Beverage Corporation by 2,028.0% in the 3rd quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after buying an additional 2,028 shares during the period. Huntington National Bank lifted its holdings in shares of Monster Beverage Corporation by 42.2% in the 2nd quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after buying an additional 633 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Monster Beverage Corporation by 11.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after purchasing an additional 232 shares during the last quarter. Sun Life Financial INC lifted its stake in shares of Monster Beverage Corporation by 29,250.0% during the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after purchasing an additional 2,925 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Monster Beverage Corporation during the 3rd quarter worth $182,000. Institutional investors own 65.84% of the company’s stock.
Shares of Monster Beverage Corporation (MNST) opened at $57.92 on Wednesday. The company has a market capitalization of $32,681.09, a PE ratio of 41.09, a P/E/G ratio of 2.06 and a beta of 0.91. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $58.54.
Monster Beverage Corporation (NASDAQ:MNST) last posted its 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 firm’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $0.99 earnings per share. research analysts predict that Monster Beverage Corporation will post 1.47 EPS for the current fiscal year.
In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the transaction, the director now owns 52,000 shares in the company, valued at $2,912,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.
A number of brokerages recently weighed in on MNST. Citigroup Inc. set a $60.00 price objective on Monster Beverage Corporation and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Susquehanna Bancshares Inc restated a “hold” rating and set a $42.00 price objective (down from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. BMO Capital Markets restated a “buy” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Wednesday, September 6th. Jefferies Group LLC upped 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, August 9th. Finally, Stifel Nicolaus restated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research note on Saturday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Monster Beverage Corporation currently has an average rating of “Buy” and an average target price of $57.06.
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.
Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST).
Receive News & Stock Ratings for Monster Beverage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage Corporation and related stocks with our FREE daily email newsletter.