DnB Asset Management AS lessened its stake in shares of Monster Beverage Co. (NASDAQ:MNST – Get Rating) by 22.5% in the second quarter, Holdings Channel reports. The institutional investor owned 60,605 shares of the company’s stock after selling 17,569 shares during the quarter. DnB Asset Management AS’s holdings in Monster Beverage were worth $5,618,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quent Capital LLC grew its stake in Monster Beverage by 45.3% during the first quarter. Quent Capital LLC now owns 430 shares of the company’s stock valued at $34,000 after acquiring an additional 134 shares in the last quarter. Regentatlantic Capital LLC grew its position in shares of Monster Beverage by 1.8% during the 1st quarter. Regentatlantic Capital LLC now owns 7,644 shares of the company’s stock valued at $611,000 after purchasing an additional 137 shares in the last quarter. Newfound Research LLC grew its position in shares of Monster Beverage by 9.3% during the 1st quarter. Newfound Research LLC now owns 1,781 shares of the company’s stock valued at $142,000 after purchasing an additional 152 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Monster Beverage by 1.6% in the first quarter. Cetera Investment Advisers now owns 10,286 shares of the company’s stock worth $822,000 after purchasing an additional 161 shares during the period. Finally, Commerce Bank raised its position in shares of Monster Beverage by 1.0% in the fourth quarter. Commerce Bank now owns 16,869 shares of the company’s stock worth $1,620,000 after buying an additional 162 shares in the last quarter. 65.49% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Royal Bank of Canada decreased their target price on Monster Beverage from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, August 5th. Roth Capital began coverage on shares of Monster Beverage in a research report on Tuesday, July 5th. They issued a “neutral” rating and a $100.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of Monster Beverage from $90.00 to $95.00 in a research report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Monster Beverage from $109.00 to $107.00 in a report on Friday, August 5th. Finally, Morgan Stanley lifted their price objective on shares of Monster Beverage from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Monday, June 6th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.40.
Monster Beverage Price Performance
Monster Beverage (NASDAQ:MNST – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.19). Monster Beverage had a net margin of 20.40% and a return on equity of 18.51%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. Analysts anticipate that Monster Beverage Co. will post 2.29 EPS for the current year.
Insider Activity at Monster Beverage
In other Monster Beverage news, CFO Thomas J. Kelly sold 16,032 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $92.52, for a total value of $1,483,280.64. Following the sale, the chief financial officer now owns 19,433 shares of the company’s stock, valued at approximately $1,797,941.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Monster Beverage news, CFO Thomas J. Kelly sold 16,996 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $93.92, for a total value of $1,596,264.32. Following the completion of the sale, the chief financial officer now directly owns 25,777 shares in the company, valued at $2,420,975.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas J. Kelly sold 16,032 shares of Monster Beverage stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $92.52, for a total value of $1,483,280.64. Following the sale, the chief financial officer now directly owns 19,433 shares in the company, valued at $1,797,941.16. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.
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