Russell Investments Group Ltd. raised its holdings in Monster Beverage Corp (NASDAQ:MNST) by 60.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 286,383 shares of the company’s stock after acquiring an additional 108,172 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Monster Beverage worth $16,691,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MNST. Principal Financial Group Inc. increased its holdings in shares of Monster Beverage by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 668,929 shares of the company’s stock valued at $38,270,000 after acquiring an additional 26,656 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Monster Beverage by 51.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 18,753 shares of the company’s stock valued at $1,075,000 after acquiring an additional 6,362 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Monster Beverage by 26.7% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,592 shares of the company’s stock valued at $435,000 after acquiring an additional 1,600 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Monster Beverage by 11.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 97,933 shares of the company’s stock valued at $5,612,000 after acquiring an additional 10,232 shares during the last quarter. Finally, Gateway Investment Advisers LLC purchased a new position in shares of Monster Beverage in the 2nd quarter valued at about $18,154,000. Hedge funds and other institutional investors own 65.02% of the company’s stock.
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 transaction of $1,035,470.00. Following the transaction, the insider now owns 46,847 shares in the company, valued at approximately $2,853,450.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.70% of the company’s stock.
NASDAQ:MNST opened at $56.84 on Friday. The company has a market cap 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 Corp has a 52-week low of $47.61 and a 52-week high of $70.21.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.73 million. Monster Beverage had a return on equity of 25.64% and a net margin of 25.86%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. As a group, analysts expect that Monster Beverage Corp will post 1.75 earnings per share for the current fiscal year.
Monster Beverage announced that its board has authorized a share repurchase program on Wednesday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of research analysts have recently commented on the company. Citigroup set a $64.00 price objective on Monster Beverage and gave the company a “buy” rating in a report on Friday. Goldman Sachs Group upgraded Monster Beverage from a “buy” rating to a “conviction-buy” rating in a report on Friday. BMO Capital Markets dropped their price objective on Monster Beverage to $60.00 and set an “outperform” rating on the stock in a report on Friday. They noted that the move was a valuation call. Jefferies Financial Group restated a “buy” rating and set a $71.00 price target on shares of Monster Beverage in a research note on Thursday. Finally, Morgan Stanley downgraded Monster Beverage from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $50.02 to $57.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $63.63.
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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