Schroder Investment Management Group cut its stake in Monster Beverage Corp (NASDAQ:MNST) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,740 shares of the company’s stock after selling 3,635 shares during the period. Schroder Investment Management Group’s holdings in Monster Beverage were worth $2,666,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of MNST. Harvest Fund Management Co. Ltd boosted its holdings in Monster Beverage by 287.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock worth $111,000 after buying an additional 1,409 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in Monster Beverage during the second quarter worth approximately $123,000. Qube Research & Technologies Ltd bought a new stake in Monster Beverage during the second quarter worth approximately $175,000. Valeo Financial Advisors LLC bought a new stake in Monster Beverage during the second quarter worth approximately $181,000. Finally, Gradient Investments LLC boosted its holdings in Monster Beverage by 940.9% during the third quarter. Gradient Investments LLC now owns 3,435 shares of the company’s stock worth $200,000 after buying an additional 3,105 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.
Monster Beverage stock opened at $57.41 on Friday. Monster Beverage Corp has a 52 week low of $47.61 and a 52 week high of $70.21. The company has a market capitalization of $32.22 billion, a P/E ratio of 39.32, a PEG ratio of 2.06 and a beta of 1.39.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $988.73 million. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue was up 11.7% on a year-over-year basis. Analysts forecast that Monster Beverage Corp will post 1.77 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on MNST. BidaskClub upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Zacks Investment Research cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, October 15th. Citigroup set a $64.00 target price on shares of Monster Beverage and gave the stock a “buy” rating in a report on Friday, November 9th. Guggenheim began coverage on shares of Monster Beverage in a report on Thursday, September 13th. They set a “buy” rating and a $72.00 target price for the company. Finally, Morgan Stanley cut shares of Monster Beverage from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $50.02 to $57.00 in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Monster Beverage presently has an average rating of “Buy” and a consensus price target of $63.38.
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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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