Arizona State Retirement System increased its stake in Monster Beverage Corp (NASDAQ:MNST) by 25.3% during the 2nd quarter, Holdings Channel reports. The firm owned 163,257 shares of the company’s stock after purchasing an additional 32,951 shares during the quarter. Arizona State Retirement System’s holdings in Monster Beverage were worth $9,355,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Eagle Asset Management Inc. grew its position in Monster Beverage by 12.9% during the second quarter. Eagle Asset Management Inc. now owns 1,406,475 shares of the company’s stock valued at $80,591,000 after acquiring an additional 160,351 shares during the last quarter. Cim Investment Mangement Inc. grew its holdings in shares of Monster Beverage by 58.8% in the second quarter. Cim Investment Mangement Inc. now owns 19,706 shares of the company’s stock worth $1,129,000 after purchasing an additional 7,297 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Monster Beverage in the second quarter worth approximately $745,000. Donaldson Capital Management LLC purchased a new position in Monster Beverage during the second quarter valued at $203,000. Finally, Girard Partners LTD. increased its holdings in Monster Beverage by 49.3% in the 2nd quarter. Girard Partners LTD. now owns 16,775 shares of the company’s stock worth $961,000 after buying an additional 5,539 shares in the last quarter. Institutional investors own 64.24% of the company’s stock.
MNST has been the topic of a number of research analyst reports. Stifel Nicolaus set a $71.00 price target on Monster Beverage and gave the stock a “buy” rating in a report on Wednesday, April 25th. Morgan Stanley upped their price objective on Monster Beverage from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, June 11th. BMO Capital Markets upped their price objective on Monster Beverage from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 19th. BidaskClub cut Monster Beverage from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Finally, Susquehanna Bancshares set a $45.00 price objective on Monster Beverage and gave the stock a “sell” rating in a report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Monster Beverage currently has an average rating of “Buy” and an average price target of $63.94.
Shares of Monster Beverage stock opened at $62.17 on Monday. The firm has a market capitalization of $33.54 billion, a price-to-earnings ratio of 42.58, a price-to-earnings-growth ratio of 2.20 and a beta of 1.34. Monster Beverage Corp has a 52 week low of $47.61 and a 52 week high of $70.21.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. Monster Beverage’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. equities research analysts expect that Monster Beverage Corp will post 1.73 earnings per share for the current fiscal year.
Monster Beverage declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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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