Sentry Investment Management LLC decreased its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 30.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,618 shares of the company’s stock after selling 8,106 shares during the period. Sentry Investment Management LLC’s holdings in Monster Beverage were worth $1,085,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Laurel Wealth Advisors Inc. increased its position in Monster Beverage by 14.5% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 6,594 shares of the company’s stock valued at $377,000 after purchasing an additional 836 shares during the period. Penserra Capital Management LLC increased its position in Monster Beverage by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 6,900 shares of the company’s stock valued at $402,000 after purchasing an additional 975 shares during the period. Supplemental Annuity Collective Trust of NJ increased its position in Monster Beverage by 25.0% during the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 5,000 shares of the company’s stock valued at $287,000 after purchasing an additional 1,000 shares during the period. Flagship Harbor Advisors LLC increased its position in Monster Beverage by 21.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,660 shares of the company’s stock valued at $324,000 after purchasing an additional 1,000 shares during the period. Finally, Pinnacle Financial Partners Inc. increased its position in Monster Beverage by 7.6% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 15,578 shares of the company’s stock valued at $892,000 after purchasing an additional 1,101 shares during the period. 65.02% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on MNST. Jefferies Financial Group raised their price target on shares of Monster Beverage from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, August 9th. BidaskClub upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Zacks Investment Research upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Friday, July 20th. BMO Capital Markets raised their price target on shares of Monster Beverage from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, July 19th. Finally, ValuEngine cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $63.63.
MNST stock opened at $56.84 on Friday. The company has a market capitalization of $30.89 billion, a P/E ratio of 38.93, a P/E/G 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 earnings results on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $988.73 million. Monster Beverage had a net margin of 25.86% and a return on equity of 25.64%. Monster Beverage’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. Analysts anticipate that Monster Beverage Corp will post 1.75 earnings per share for the current fiscal year.
Monster Beverage announced that its board has approved a share repurchase program on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, insider Emelie Tirre sold 17,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $60.91, for a total value of $1,035,470.00. Following the completion of the sale, the insider now directly 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 can be accessed through the SEC website. 9.70% of the stock is owned by company insiders.
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Monster Beverage Company Profile
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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