Mediolanum International Funds Ltd Acquires 13,002 Shares of Monster Beverage Corporation $MNST

Mediolanum International Funds Ltd grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 2.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 659,981 shares of the company’s stock after acquiring an additional 13,002 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Monster Beverage were worth $40,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. Nuveen LLC bought a new stake in shares of Monster Beverage in the 1st quarter valued at approximately $497,157,000. AustralianSuper Pty Ltd bought a new stake in Monster Beverage in the second quarter worth $157,063,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Monster Beverage by 34.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company’s stock valued at $425,921,000 after acquiring an additional 1,872,075 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Monster Beverage by 39,281.2% in the second quarter. Los Angeles Capital Management LLC now owns 1,379,522 shares of the company’s stock valued at $86,413,000 after acquiring an additional 1,376,019 shares during the period. Finally, Amundi lifted its holdings in shares of Monster Beverage by 69.8% in the 1st quarter. Amundi now owns 3,032,591 shares of the company’s stock worth $180,894,000 after acquiring an additional 1,246,114 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Evercore ISI boosted their price objective on Monster Beverage from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, November 7th. The Goldman Sachs Group increased their target price on Monster Beverage from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of Monster Beverage in a research note on Thursday, November 6th. Finally, Citigroup reaffirmed a “buy” rating and issued a $79.00 price target (up previously from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.62.

Insider Activity

In related news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the completion of the transaction, the insider owned 21,993 shares in the company, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.30% of the stock is currently owned by insiders.

Monster Beverage Stock Down 0.1%

Shares of MNST stock opened at $72.22 on Friday. The firm has a market cap of $70.56 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 2.31 and a beta of 0.53. The company’s 50 day moving average is $68.12 and its 200 day moving average is $64.21. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $73.07.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. Analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.