Monster Beverage Corporation (MNST) Shares Bought by Stifel Financial Corp
Stifel Financial Corp lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,934 shares of the company’s stock after purchasing an additional 24,126 shares during the period. Stifel Financial Corp’s holdings in Monster Beverage were worth $13,209,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of MNST. Commonwealth Bank of Australia grew its holdings in shares of Monster Beverage 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 during the last quarter. Liberty Capital Management Inc. grew its holdings in shares of Monster Beverage by 2,028.0% in the third quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after purchasing an additional 2,028 shares during the last quarter. Sun Life Financial INC grew its holdings in shares of Monster Beverage by 29,250.0% in the second 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. Bessemer Group Inc. grew its holdings in shares of Monster Beverage by 397.6% in the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after purchasing an additional 2,143 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Monster Beverage in the third quarter worth about $182,000. Hedge funds and other institutional investors own 65.88% of the company’s stock.
Several brokerages have issued reports on MNST. Jefferies Group increased their target price on shares of Monster Beverage from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, November 28th. UBS cut shares of Monster Beverage to a “neutral” rating in a report on Monday, November 20th. Susquehanna Bancshares set a $51.00 target price on shares of Monster Beverage and gave the stock a “sell” rating in a report on Monday, November 20th. BMO Capital Markets reiterated an “outperform” rating and set a $65.00 target price (up from $58.00) on shares of Monster Beverage in a report on Thursday, November 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $61.00 target price on shares of Monster Beverage in a report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Monster Beverage currently has a consensus rating of “Buy” and a consensus price target of $59.24.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. analysts anticipate that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.
Monster Beverage Profile
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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