Monster Beverage Corp (NASDAQ:MNST) Shares Bought by Strs Ohio
Strs Ohio raised its stake in Monster Beverage Corp (NASDAQ:MNST) by 0.6% in the third quarter, HoldingsChannel reports. The fund owned 232,200 shares of the company’s stock after purchasing an additional 1,482 shares during the period. Strs Ohio’s holdings in Monster Beverage were worth $13,481,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Westside Investment Management Inc. acquired a new position in Monster Beverage in the second quarter valued at approximately $26,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Monster Beverage in the second quarter valued at approximately $32,000. Coastal Capital Group Inc. acquired a new position in Monster Beverage in the second quarter valued at approximately $34,000. Motco lifted its holdings in Monster Beverage by 47.1% in the second quarter. Motco now owns 534 shares of the company’s stock valued at $34,000 after acquiring an additional 171 shares during the period. Finally, West Oak Capital LLC acquired a new position in Monster Beverage in the second quarter valued at approximately $38,000. 66.12% of the stock is owned by institutional investors.
MNST has been the subject of a number of analyst reports. Cowen downgraded Monster Beverage from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $69.00 to $65.00 in a report on Thursday, October 17th. Royal Bank of Canada set a $75.00 price objective on Monster Beverage and gave the company a “buy” rating in a research report on Monday, September 30th. BidaskClub cut Monster Beverage from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Credit Suisse Group restated an “outperform” rating and issued a $77.00 price objective on shares of Monster Beverage in a research report on Wednesday, August 28th. Finally, BMO Capital Markets cut their price objective on Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $64.80.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.03). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Equities analysts forecast that Monster Beverage Corp will post 2.04 EPS for the current fiscal year.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.
Featured Article: Monthly Dividend Stocks
Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corp (NASDAQ:MNST).
Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.