Vident Investment Advisory LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,279 shares of the company’s stock, valued at approximately $1,120,000.

Other institutional investors also recently made changes to their positions in the company. Liberty Capital Management Inc. raised its position in shares of Monster Beverage by 2,028.0% during the 3rd 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 period. Commonwealth Bank of Australia increased its position in Monster Beverage by 11.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after acquiring an additional 232 shares during the period. Bessemer Group Inc. increased its position in Monster Beverage by 397.6% in the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after acquiring an additional 2,143 shares during the period. Sun Life Financial INC increased its position in Monster Beverage by 29,250.0% in the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock valued at $146,000 after acquiring an additional 2,925 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in Monster Beverage in the 3rd quarter valued at approximately $182,000. Institutional investors and hedge funds own 65.88% of the company’s stock.

Monster Beverage Corporation (NASDAQ:MNST) opened at $63.13 on Friday. The stock has a market capitalization of $35,817.31, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. Monster Beverage Corporation has a one year low of $41.02 and a one year high of $64.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. sell-side analysts predict that Monster Beverage Corporation will post 1.48 EPS for the current year.

Several analysts recently commented on the company. Deutsche Bank assumed coverage on Monster Beverage in a research report on Wednesday. They issued a “hold” rating and a $66.00 target price on the stock. Jefferies Group raised their target price on Monster Beverage from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, November 28th. Credit Suisse Group restated an “outperform” rating and issued a $69.00 target price (up from $62.00) on shares of Monster Beverage in a research report on Monday, November 20th. Susquehanna Bancshares cut Monster Beverage from a “neutral” rating to a “negative” rating and set a $51.00 target price on the stock. in a research report on Monday, November 20th. Finally, Citigroup cut Monster Beverage to a “neutral” rating and lowered their target price for the company from $56.00 to $51.00 in a research report on Monday, November 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Monster Beverage currently has a consensus rating of “Buy” and a consensus price target of $59.64.

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About Monster Beverage

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.

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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