IFP Advisors Inc raised its position in Monster Beverage Corporation (NASDAQ:MNST) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 12,691 shares of the company’s stock after buying an additional 66 shares during the period. IFP Advisors Inc’s holdings in Monster Beverage Corporation were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank raised its stake in Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after buying an additional 633 shares in the last quarter. Coconut Grove Bank raised its stake in Monster Beverage Corporation by 128.0% in the first quarter. Coconut Grove Bank now owns 2,565 shares of the company’s stock worth $118,000 after buying an additional 1,440 shares in the last quarter. Dynamic Advisors Solutions LLC acquired a new stake in Monster Beverage Corporation during the second quarter worth approximately $202,000. Assetmark Inc. raised its stake in Monster Beverage Corporation by 7.7% in the first quarter. Assetmark Inc. now owns 4,350 shares of the company’s stock worth $201,000 after buying an additional 311 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Monster Beverage Corporation by 59.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,612 shares of the company’s stock worth $213,000 after buying an additional 1,712 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Monster Beverage Corporation (NASDAQ MNST) opened at 53.82 on Friday. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $161.74. The company has a 50-day moving average of $51.84 and a 200 day moving average of $47.82. The company has a market capitalization of $30.58 billion, a PE ratio of 40.71 and a beta of 0.96.

Monster Beverage Corporation (NASDAQ:MNST) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share. Analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current year.

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A number of analysts have commented on the stock. Credit Suisse Group set a $59.00 target price on shares of Monster Beverage Corporation and gave the stock a “buy” rating in a report on Saturday, May 6th. UBS AG set a $59.00 target price on shares of Monster Beverage Corporation and gave the stock a “buy” rating in a report on Wednesday, June 21st. Jefferies Group LLC lifted their target price on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $57.00 target price on shares of Monster Beverage Corporation in a report on Wednesday. Finally, Zacks Investment Research lowered shares of Monster Beverage Corporation from a “buy” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $56.28.

About Monster Beverage Corporation

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

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