Kornitzer Capital Management Inc. KS trimmed its stake in Monster Beverage Corp (NASDAQ:MNST) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,906 shares of the company’s stock after selling 4,143 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Monster Beverage were worth $2,491,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Monster Beverage by 72.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 371,600 shares of the company’s stock worth $23,719,000 after buying an additional 155,750 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Monster Beverage by 3.1% in the second quarter. Raymond James Trust N.A. now owns 5,579 shares of the company’s stock worth $356,000 after buying an additional 169 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Monster Beverage in the second quarter worth approximately $236,000. Steward Partners Investment Advisory LLC purchased a new stake in Monster Beverage in the second quarter worth approximately $127,000. Finally, Aperio Group LLC boosted its stake in Monster Beverage by 1.1% in the second quarter. Aperio Group LLC now owns 221,438 shares of the company’s stock worth $14,134,000 after buying an additional 2,367 shares in the last quarter. Institutional investors own 66.03% of the company’s stock.
A number of analysts have recently weighed in on MNST shares. BMO Capital Markets dropped their price objective on Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Zacks Investment Research raised Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 price objective for the company in a research note on Tuesday, October 1st. Morgan Stanley increased their price objective on Monster Beverage from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group reissued a “sell” rating and set a $52.00 price objective (down previously from $53.00) on shares of Monster Beverage in a research note on Thursday, August 8th. Finally, Royal Bank of Canada set a $75.00 price objective on Monster Beverage and gave the company a “buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.93.
Shares of NASDAQ:MNST traded up $1.52 during trading on Friday, reaching $58.16. 6,600,300 shares of the company traded hands, compared to its average volume of 3,454,498. Monster Beverage Corp has a 52-week low of $47.74 and a 52-week high of $66.38. The business’s fifty day moving average is $56.72 and its 200-day moving average is $60.34. The firm has a market capitalization of $30.77 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 1.95 and a beta of 1.17.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.48 EPS. Monster Beverage’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that Monster Beverage Corp will post 2.03 EPS for the current year.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.
Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corp (NASDAQ:MNST).
Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.