Avitas Wealth Management LLC grew its holdings in Monster Beverage Corp (NASDAQ:MNST) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,824 shares of the company’s stock after buying an additional 547 shares during the period. Avitas Wealth Management LLC’s holdings in Monster Beverage were worth $2,080,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of MNST. Nuveen Asset Management LLC raised its position in shares of Monster Beverage by 7,920.5% in the second quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock valued at $580,817,000 after buying an additional 8,985,980 shares during the last quarter. Viking Global Investors LP acquired a new stake in shares of Monster Beverage in the second quarter valued at about $565,020,000. Renaissance Technologies LLC raised its position in shares of Monster Beverage by 19.6% in the second quarter. Renaissance Technologies LLC now owns 8,624,004 shares of the company’s stock valued at $550,470,000 after buying an additional 1,413,700 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Monster Beverage by 39.0% in the second quarter. AQR Capital Management LLC now owns 4,795,737 shares of the company’s stock valued at $306,112,000 after buying an additional 1,345,673 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Monster Beverage by 124.8% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,322,828 shares of the company’s stock valued at $84,436,000 after buying an additional 734,404 shares during the last quarter. Institutional investors and hedge funds own 66.12% of the company’s stock.
A number of equities research analysts have recently commented on MNST shares. Wells Fargo & Co reduced their target price on shares of Monster Beverage from $59.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Cowen cut shares of Monster Beverage from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $69.00 to $65.00 in a research report on Thursday. Zacks Investment Research upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 target price for the company in a research report on Tuesday, October 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $77.00 target price on shares of Monster Beverage in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada set a $75.00 target price on shares of Monster Beverage and gave the company a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.80.
Monster Beverage stock opened at $56.06 on Monday. Monster Beverage Corp has a 12-month low of $47.74 and a 12-month high of $66.38. The stock has a market cap of $30.82 billion, a P/E ratio of 31.32, a PEG ratio of 1.95 and a beta of 1.19. The company has a 50-day moving average price of $57.47 and a 200 day moving average price of $60.08.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.03). Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. Monster Beverage’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Monster Beverage Corp will post 2.04 earnings per share for the current fiscal year.
Monster Beverage Company 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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