Fifth Third Bancorp reduced its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 531,521 shares of the company’s stock after selling 6,112 shares during the quarter. Fifth Third Bancorp owned approximately 0.10% of Monster Beverage worth $30,977,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Monster Beverage by 1.2% during the third quarter. BlackRock Inc. now owns 24,111,145 shares of the company’s stock worth $1,405,199,000 after purchasing an additional 279,364 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Monster Beverage by 1.5% during the third quarter. Loomis Sayles & Co. L P now owns 24,002,010 shares of the company’s stock worth $1,398,837,000 after purchasing an additional 347,332 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Monster Beverage by 47.2% during the third quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock worth $720,297,000 after purchasing an additional 3,961,104 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Monster Beverage by 24.4% during the second quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after purchasing an additional 1,071,066 shares during the period. Finally, Northern Trust Corp raised its position in Monster Beverage by 2.5% during the second quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock valued at $286,039,000 after acquiring an additional 121,766 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.
MNST has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of Monster Beverage in a research report on Thursday, November 8th. Stifel Nicolaus raised their price objective on shares of Monster Beverage from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Guggenheim initiated coverage on shares of Monster Beverage in a research report on Thursday, September 13th. They set a “buy” rating and a $72.00 price objective on the stock. BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Finally, Citigroup raised their price objective on shares of Monster Beverage from $62.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Monster Beverage has an average rating of “Buy” and an average target price of $63.38.
NASDAQ:MNST opened at $57.41 on Friday. Monster Beverage Corp has a 12 month low of $47.61 and a 12 month high of $70.21. The company has a market capitalization of $32.22 billion, a PE ratio of 39.32, a PEG ratio of 2.06 and a beta of 1.39.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $988.73 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that Monster Beverage Corp will post 1.77 EPS for the current year.
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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