Andra AP fonden bought a new position in shares of Monster Beverage Corp (NASDAQ:MNST) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 91,100 shares of the company’s stock, valued at approximately $5,220,000.

A number of other hedge funds also recently made changes to their positions in the business. Integrated Investment Consultants LLC acquired a new stake in shares of Monster Beverage in the second quarter valued at approximately $123,000. Exane Derivatives raised its holdings 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 last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Monster Beverage in the second quarter valued at approximately $175,000. Valeo Financial Advisors LLC acquired a new stake in shares of Monster Beverage in the second quarter valued at approximately $181,000. Finally, Lido Advisors LLC acquired a new stake in shares of Monster Beverage in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Shares of MNST opened at $58.30 on Tuesday. The firm has a market cap of $33.07 billion, a P/E ratio of 39.93, a PEG ratio of 2.16 and a beta of 1.30. Monster Beverage Corp has a 1-year low of $47.61 and a 1-year high of $70.21.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 8th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The business 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 firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. analysts anticipate that Monster Beverage Corp will post 1.73 EPS for the current year.

Monster Beverage declared that its board has approved a share buyback program on Wednesday, May 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Monster Beverage news, insider Emelie Tirre sold 17,000 shares of Monster Beverage stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the completion of the transaction, the insider now directly owns 46,847 shares of the company’s stock, valued at $2,853,450.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 9.70% of the company’s stock.

A number of research firms have recently issued reports on MNST. Jefferies Financial Group lifted their price objective on shares of Monster Beverage from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, August 9th. BidaskClub upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Zacks Investment Research upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Friday, July 20th. BMO Capital Markets boosted their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 19th. Finally, ValuEngine downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $64.69.

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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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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