Monster Beverage Corporation (MNST) Shares Bought by Commonwealth Bank of Australia
Commonwealth Bank of Australia increased its stake in Monster Beverage Corporation (NASDAQ:MNST) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,346 shares of the company’s stock after purchasing an additional 232 shares during the period. Commonwealth Bank of Australia’s holdings in Monster Beverage Corporation were worth $116,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Atlantic Trust Group LLC raised its position in Monster Beverage Corporation by 4.3% in the 2nd quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock worth $24,056,000 after purchasing an additional 19,966 shares during the last quarter. Cim Investment Mangement Inc. raised its position in Monster Beverage Corporation by 250.5% in the 2nd quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock worth $1,142,000 after purchasing an additional 16,426 shares during the last quarter. Swiss National Bank raised its position in Monster Beverage Corporation by 3.1% in the 2nd quarter. Swiss National Bank now owns 1,460,602 shares of the company’s stock worth $72,563,000 after purchasing an additional 44,200 shares during the last quarter. Calamos Advisors LLC raised its position in Monster Beverage Corporation by 7.5% in the 2nd quarter. Calamos Advisors LLC now owns 652,398 shares of the company’s stock worth $32,411,000 after purchasing an additional 45,469 shares during the last quarter. Finally, Chilton Investment Co. LLC bought a new position in Monster Beverage Corporation in the 2nd quarter worth approximately $35,322,000. Hedge funds and other institutional investors own 65.89% of the company’s stock.
Several research analysts recently weighed in on the stock. UBS AG set a $59.00 price objective on shares of Monster Beverage Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC boosted their price objective on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a research report on Wednesday, August 9th. Credit Suisse Group set a $61.00 price objective on shares of Monster Beverage Corporation and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of Monster Beverage Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $56.86.
Monster Beverage Corporation (MNST) opened at 56.26 on Wednesday. The firm has a market cap of $31.97 billion, a price-to-earnings ratio of 42.56 and a beta of 0.99. The stock has a 50 day moving average of $54.84 and a 200 day moving average of $50.17. Monster Beverage Corporation has a one year low of $40.64 and a one year high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). The business had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. Monster Beverage Corporation’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Equities research analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
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In other news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now owns 52,000 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.40% of the stock is currently owned by company insiders.
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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