Jennison Associates LLC lowered its stake in Monster Beverage Corporation (NASDAQ:MNST) by 10.6% during the second quarter, Holdings Channel reports. The fund owned 11,985,434 shares of the company’s stock after selling 1,422,285 shares during the period. Jennison Associates LLC’s holdings in Monster Beverage Corporation were worth $595,436,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MNST. BB&T Securities LLC increased its stake in shares of Monster Beverage Corporation by 83.1% in the second quarter. BB&T Securities LLC now owns 29,438 shares of the company’s stock valued at $1,462,000 after buying an additional 13,361 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Monster Beverage Corporation by 10.5% in the second quarter. Blair William & Co. IL now owns 44,245 shares of the company’s stock valued at $2,198,000 after buying an additional 4,188 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Monster Beverage Corporation by 80.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,172,424 shares of the company’s stock valued at $58,246,000 after buying an additional 524,329 shares during the last quarter. KBC Group NV increased its stake in shares of Monster Beverage Corporation by 39.8% in the second quarter. KBC Group NV now owns 245,506 shares of the company’s stock valued at $12,197,000 after buying an additional 69,893 shares during the last quarter. Finally, First Personal Financial Services increased its stake in shares of Monster Beverage Corporation by 2.7% in the second quarter. First Personal Financial Services now owns 6,653 shares of the company’s stock valued at $331,000 after buying an additional 176 shares during the last quarter. 65.87% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Corporation (MNST) traded up 0.63% on Friday, hitting $54.05. 1,930,337 shares of the company were exchanged. The firm has a 50 day moving average of $52.28 and a 200-day moving average of $48.22. The stock has a market cap of $30.71 billion, a PE ratio of 40.89 and a beta of 0.96. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $159.90.

Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (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 the consensus estimate of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, equities analysts expect that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Monster Beverage Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $57.00 target price on shares of Monster Beverage Corporation in a research note on Wednesday, August 9th. Credit Suisse Group set a $61.00 target price on shares of Monster Beverage Corporation and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Jefferies Group LLC upped their target price on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $42.00 target price (down from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Three investment 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 stock. Monster Beverage Corporation has a consensus rating of “Buy” and an average target price of $56.28.

Monster Beverage Corporation Company Profile

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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