Foundations Investment Advisors LLC purchased a new stake in Monster Beverage Co. (NASDAQ:MNST – Get Rating) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,240 shares of the company’s stock, valued at approximately $218,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Monster Beverage by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 30,005,150 shares of the company’s stock worth $2,397,411,000 after purchasing an additional 504,239 shares in the last quarter. BlackRock Inc. lifted its stake in Monster Beverage by 0.6% in the 1st quarter. BlackRock Inc. now owns 24,385,742 shares of the company’s stock worth $1,948,417,000 after purchasing an additional 149,725 shares in the last quarter. State Street Corp lifted its stake in Monster Beverage by 2.4% in the 1st quarter. State Street Corp now owns 17,029,815 shares of the company’s stock worth $1,360,682,000 after purchasing an additional 391,417 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Monster Beverage by 10.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,071,948 shares of the company’s stock worth $804,749,000 after purchasing an additional 912,942 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Monster Beverage by 8.2% in the 1st quarter. Renaissance Technologies LLC now owns 7,028,060 shares of the company’s stock worth $561,542,000 after purchasing an additional 531,500 shares in the last quarter. 65.49% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on MNST shares. Wells Fargo & Company raised their target price on shares of Monster Beverage from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Morgan Stanley raised their target price on shares of Monster Beverage from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Monday, June 6th. BMO Capital Markets raised their price target on shares of Monster Beverage from $90.00 to $95.00 in a report on Wednesday, June 15th. UBS Group raised their price target on shares of Monster Beverage from $94.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Finally, Roth Capital began coverage on shares of Monster Beverage in a report on Tuesday, July 5th. They set a “neutral” rating and a $100.00 price target for the company. Eight 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.40.
Insider Buying and Selling at Monster Beverage
Monster Beverage Stock Down 0.1 %
Shares of MNST stock opened at $87.24 on Monday. Monster Beverage Co. has a 52 week low of $71.78 and a 52 week high of $99.81. The stock has a market capitalization of $45.97 billion, a PE ratio of 38.10, a P/E/G ratio of 3.45 and a beta of 0.95. The firm has a 50 day moving average of $92.54 and a two-hundred day moving average of $87.96.
Monster Beverage (NASDAQ:MNST – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.51 EPS 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 business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. Analysts expect that Monster Beverage Co. will post 2.29 EPS for the current fiscal year.
Monster Beverage Profile
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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