Fifth Third Bancorp lowered its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 531,521 shares of the company’s stock after selling 6,112 shares during the period. Fifth Third Bancorp’s holdings in Monster Beverage were worth $30,977,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Monster Beverage by 1.2% during the third quarter. BlackRock Inc. now owns 24,111,145 shares of the company’s stock worth $1,405,199,000 after buying an additional 279,364 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Monster Beverage by 1.5% during the third quarter. Loomis Sayles & Co. L P now owns 24,002,010 shares of the company’s stock worth $1,398,837,000 after buying an additional 347,332 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Monster Beverage by 47.2% during the third quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock worth $720,297,000 after buying an additional 3,961,104 shares in the last quarter. Voya Investment Management LLC boosted its stake in Monster Beverage by 24.4% during the second quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after buying an additional 1,071,066 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Monster Beverage by 2.5% during the second quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after buying an additional 121,766 shares in the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.
Shares of NASDAQ:MNST opened at $57.41 on Friday. Monster Beverage Corp has a 52 week low of $47.61 and a 52 week high of $70.21. The firm has a market capitalization of $32.22 billion, a PE ratio of 39.32, a PEG ratio of 2.06 and a beta of 1.39.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.73 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Monster Beverage Corp will post 1.77 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the stock. BidaskClub upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Zacks Investment Research downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, October 15th. Citigroup set a $64.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a research note on Friday, November 9th. Guggenheim assumed coverage on shares of Monster Beverage in a research note on Thursday, September 13th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Morgan Stanley downgraded shares of Monster Beverage from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $50.02 to $57.00 in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Monster Beverage presently has an average rating of “Buy” and a consensus target price of $63.38.
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Monster Beverage Company Profile
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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