Pitcairn Co. lowered its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,626 shares of the company’s stock after selling 155 shares during the quarter. Pitcairn Co.’s holdings in Monster Beverage were worth $677,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC increased its holdings in Monster Beverage by 0.5% in the 2nd quarter. FMR LLC now owns 30,247,801 shares of the company’s stock worth $2,763,136,000 after buying an additional 140,676 shares in the last quarter. State Street Corp lifted its position in shares of Monster Beverage by 2.0% during the 2nd quarter. State Street Corp now owns 16,008,926 shares of the company’s stock valued at $1,462,415,000 after buying an additional 311,822 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Monster Beverage by 11.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,107,934 shares of the company’s stock worth $923,362,000 after purchasing an additional 1,043,337 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Monster Beverage by 3.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,983,514 shares of the company’s stock worth $820,644,000 after purchasing an additional 321,813 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Monster Beverage by 9.0% during the 2nd quarter. Clearbridge Investments LLC now owns 8,698,886 shares of the company’s stock worth $794,643,000 after acquiring an additional 718,247 shares in the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on MNST shares. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, November 2nd. Redburn Partners initiated coverage on Monster Beverage in a research report on Monday, November 1st. They issued a “neutral” rating on the stock. Wells Fargo & Company cut their price objective on Monster Beverage from $105.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, October 14th. Morgan Stanley dropped their price target on Monster Beverage from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, November 5th. Finally, Jefferies Financial Group downgraded Monster Beverage from a “buy” rating to a “hold” rating and dropped their price target for the stock from $113.00 to $92.00 in a research report on Wednesday, October 13th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $106.21.
Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, November 4th. The company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.04). Monster Beverage had a net margin of 28.76% and a return on equity of 23.94%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. Monster Beverage’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities analysts predict that Monster Beverage Co. will post 2.57 EPS for the current fiscal year.
Monster Beverage Profile
Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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