Prudential Financial Inc. Has $32,007,000 Position in Monster Beverage Corp. (MNST)
Prudential Financial Inc. boosted its stake in shares of Monster Beverage Corp. (NASDAQ:MNST) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,164 shares of the company’s stock after buying an additional 12,230 shares during the period. Prudential Financial Inc. owned approximately 0.10% of Monster Beverage Corp. worth $32,007,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. FDO Partners LLC increased its stake in Monster Beverage Corp. by 63.9% in the first quarter. FDO Partners LLC now owns 2,742 shares of the company’s stock worth $366,000 after buying an additional 1,069 shares during the period. Teachers Advisors Inc. increased its stake in Monster Beverage Corp. by 4.5% in the first quarter. Teachers Advisors Inc. now owns 995,532 shares of the company’s stock worth $132,784,000 after buying an additional 42,464 shares during the period. TIAA CREF Investment Management LLC increased its stake in Monster Beverage Corp. by 6.8% in the first quarter. TIAA CREF Investment Management LLC now owns 3,203,097 shares of the company’s stock worth $427,229,000 after buying an additional 205,176 shares during the period. Ngam Advisors L.P. increased its stake in Monster Beverage Corp. by 6.9% in the first quarter. Ngam Advisors L.P. now owns 325,420 shares of the company’s stock worth $43,405,000 after buying an additional 21,113 shares during the period. Finally, Icon Advisers Inc. Co. bought a new stake in Monster Beverage Corp. during the first quarter worth about $587,000. Institutional investors own 67.42% of the company’s stock.
Shares of Monster Beverage Corp. (NASDAQ:MNST) traded down 0.4280% during midday trading on Wednesday, hitting $146.4704. 231,913 shares of the stock were exchanged. The firm’s 50-day moving average is $155.10 and its 200 day moving average is $148.14. The firm has a market cap of $27.88 billion, a PE ratio of 45.7149 and a beta of 0.65. Monster Beverage Corp. has a 52-week low of $113.08 and a 52-week high of $166.50.
Monster Beverage Corp. (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by $0.04. Monster Beverage Corp. had a net margin of 22.73% and a return on equity of 15.46%. The business had revenue of $945.80 million for the quarter, compared to analysts’ expectations of $804.24 million. During the same period in the previous year, the company earned $0.79 EPS. Monster Beverage Corp.’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, analysts forecast that Monster Beverage Corp. will post $3.90 earnings per share for the current year.
Several equities analysts have recently weighed in on MNST shares. Wells Fargo & Co. downgraded shares of Monster Beverage Corp. from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $162.77 to $113.08 in a research note on Monday, July 18th. Jefferies Group reiterated a “hold” rating on shares of Monster Beverage Corp. in a research note on Monday, August 1st. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $172.00 target price (down previously from $173.00) on shares of Monster Beverage Corp. in a research note on Wednesday, June 29th. Stifel Nicolaus lifted their target price on shares of Monster Beverage Corp. from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $190.00 target price (up previously from $166.00) on shares of Monster Beverage Corp. in a research note on Wednesday, August 10th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $166.37.
In related news, VP Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total value of $1,596,600.00. Following the completion of the sale, the vice president now directly owns 5,717 shares of the company’s stock, valued at approximately $912,776.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.20% of the stock is currently owned by corporate insiders.
About Monster Beverage Corp.
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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