Russell Investments Group Ltd. grew its holdings in Monster Beverage Corp (NASDAQ:MNST) by 60.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,383 shares of the company’s stock after buying an additional 108,172 shares during the quarter. Russell Investments Group Ltd.’s holdings in Monster Beverage were worth $16,691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MNST. Janus Henderson Group PLC lifted its holdings in shares of Monster Beverage by 414.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock valued at $245,188,000 after buying an additional 3,447,585 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Monster Beverage by 24.4% in the 2nd quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock valued at $313,346,000 after buying an additional 1,071,066 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $56,494,000. Millennium Management LLC lifted its holdings in shares of Monster Beverage by 133.5% in the 2nd quarter. Millennium Management LLC now owns 1,099,631 shares of the company’s stock valued at $63,009,000 after buying an additional 628,708 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Monster Beverage by 2.6% in the 2nd quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock valued at $1,365,558,000 after buying an additional 604,939 shares during the period. 65.02% of the stock is owned by institutional investors and hedge funds.

In related news, insider Emelie Tirre sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $60.91, for a total value of $1,035,470.00. Following the completion of the transaction, the insider now directly owns 46,847 shares of the company’s stock, valued at approximately $2,853,450.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.70% of the company’s stock.

Several analysts have recently commented on MNST shares. BidaskClub raised Monster Beverage from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 17th. BMO Capital Markets raised their price target on Monster Beverage from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, July 19th. Zacks Investment Research raised Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Friday, July 20th. Jefferies Financial Group raised their price target on Monster Beverage from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Citigroup raised their price target on Monster Beverage from $62.00 to $71.00 and gave the company a “buy” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $63.63.

NASDAQ MNST opened at $56.84 on Friday. Monster Beverage Corp has a 1-year low of $47.61 and a 1-year high of $70.21. The company has a market capitalization of $30.89 billion, a P/E ratio of 38.93, a PEG ratio of 2.02 and a beta of 1.36.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. Monster Beverage had a return on equity of 25.64% and a net margin of 25.86%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $988.73 million. During the same period last year, the business posted $0.40 EPS. Monster Beverage’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Monster Beverage Corp will post 1.75 earnings per share for the current fiscal year.

Monster Beverage declared that its board has authorized a stock repurchase plan on Wednesday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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

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