Knuff & Co LLC decreased its stake in Monster Beverage Corp (NASDAQ:MNST) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,572 shares of the company’s stock after selling 2,600 shares during the quarter. Monster Beverage comprises 2.2% of Knuff & Co LLC’s portfolio, making the stock its 14th biggest holding. Knuff & Co LLC’s holdings in Monster Beverage were worth $3,036,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Monster Beverage by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock valued at $262,159,000 after acquiring an additional 289,340 shares during the period. Northern Trust Corp raised its position in Monster Beverage by 0.4% during the 1st quarter. Northern Trust Corp now owns 4,780,268 shares of the company’s stock valued at $260,907,000 after purchasing an additional 21,204 shares in the last quarter. USS Investment Management Ltd raised its position in Monster Beverage by 14.3% during the 1st quarter. USS Investment Management Ltd now owns 2,190,226 shares of the company’s stock valued at $119,521,000 after purchasing an additional 274,111 shares in the last quarter. AJO LP raised its position in Monster Beverage by 811.6% during the 1st quarter. AJO LP now owns 1,754,408 shares of the company’s stock valued at $95,756,000 after purchasing an additional 1,561,959 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Monster Beverage by 2.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,595,716 shares of the company’s stock worth $87,094,000 after acquiring an additional 39,452 shares in the last quarter. Hedge funds and other institutional investors own 65.88% of the company’s stock.
Several brokerages recently issued reports on MNST. Credit Suisse Group reaffirmed an “outperform” rating and set a $77.00 target price on shares of Monster Beverage in a research report on Wednesday. Morgan Stanley restated an “equal weight” rating and issued a $62.00 target price (down previously from $67.00) on shares of Monster Beverage in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Wells Fargo & Co upped their price target on Monster Beverage from $56.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, May 29th. Finally, UBS Group reaffirmed a “sell” rating and issued a $52.00 price target (down previously from $53.00) on shares of Monster Beverage in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $65.21.
In related news, insider Guy Carling sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.82, for a total transaction of $1,579,680.00. Following the completion of the sale, the insider now directly owns 33,535 shares of the company’s stock, valued at $2,207,273.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.20% of the company’s stock.
Shares of NASDAQ MNST traded up $0.05 during trading on Thursday, reaching $58.13. The company had a trading volume of 78,369 shares, compared to its average volume of 3,740,744. Monster Beverage Corp has a 52 week low of $47.74 and a 52 week high of $66.38. The stock has a market cap of $30.87 billion, a PE ratio of 32.47, a PEG ratio of 1.94 and a beta of 1.30. The business’s 50 day moving average price is $61.28 and its 200-day moving average price is $60.42.
Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, August 7th. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.03). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts expect that Monster Beverage Corp will post 2.05 EPS for the current 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.
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