Strs Ohio decreased its stake in Monster Beverage Corp (NASDAQ:MNST) by 22.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,797 shares of the company’s stock after selling 102,034 shares during the quarter. Strs Ohio’s holdings in Monster Beverage were worth $20,272,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimum Investment Advisors acquired a new stake in shares of Monster Beverage in the first quarter valued at about $120,000. Integrated Investment Consultants LLC acquired a new stake in shares of Monster Beverage in the second quarter valued at about $123,000. Exane Derivatives grew its position in shares of Monster Beverage by 7,740.0% in the second quarter. Exane Derivatives now owns 2,352 shares of the company’s stock valued at $134,000 after purchasing an additional 2,322 shares during the period. Synovus Financial Corp acquired a new stake in shares of Monster Beverage in the first quarter valued at about $175,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Monster Beverage in the first quarter valued at about $200,000. Institutional investors and hedge funds own 64.24% of the company’s stock.
NASDAQ:MNST opened at $62.17 on Friday. The stock has a market capitalization of $33.54 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 2.20 and a beta of 1.34. Monster Beverage Corp has a twelve month low of $47.61 and a twelve month high of $70.21.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Monster Beverage had a net margin of 25.27% and a return on equity of 24.39%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. research analysts anticipate that Monster Beverage Corp will post 1.73 EPS for the current year.
Monster Beverage declared that its Board of Directors has approved a share repurchase program on Wednesday, May 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
MNST has been the topic of several research analyst reports. Susquehanna Bancshares set a $45.00 target price on shares of Monster Beverage and gave the company a “sell” rating in a research report on Monday, May 7th. BidaskClub upgraded shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 17th. Jefferies Financial Group raised their price target on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. Stifel Nicolaus raised their price target on shares of Monster Beverage from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, July 12th. Finally, BMO Capital Markets raised their price target on shares of Monster Beverage from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Monster Beverage presently has an average rating of “Buy” and an average target price of $63.94.
Monster Beverage 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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