Swiss National Bank decreased its position in Monster Beverage Co. (NASDAQ:MNST – Free Report) by 8.7% in the 2nd quarter, Holdings Channel reports. The fund owned 2,835,000 shares of the company’s stock after selling 271,000 shares during the period. Swiss National Bank’s holdings in Monster Beverage were worth $162,842,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of MNST. Cibc World Market Inc. grew its position in Monster Beverage by 3.3% in the first quarter. Cibc World Market Inc. now owns 6,759 shares of the company’s stock valued at $540,000 after acquiring an additional 219 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Monster Beverage by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,097,590 shares of the company’s stock valued at $87,699,000 after buying an additional 27,858 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Monster Beverage by 7.5% during the 1st quarter. Blair William & Co. IL now owns 2,537 shares of the company’s stock valued at $203,000 after buying an additional 177 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Monster Beverage by 76.1% during the 1st quarter. Sei Investments Co. now owns 37,492 shares of the company’s stock valued at $2,997,000 after buying an additional 16,206 shares during the last quarter. Finally, Aviva PLC boosted its stake in shares of Monster Beverage by 91.4% during the 1st quarter. Aviva PLC now owns 114,297 shares of the company’s stock valued at $9,132,000 after buying an additional 54,586 shares during the last quarter. Institutional investors and hedge funds own 64.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Stifel Nicolaus raised their price objective on Monster Beverage from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Citigroup dropped their target price on Monster Beverage from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, October 11th. Cfra raised Monster Beverage from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday, October 5th. StockNews.com initiated coverage on Monster Beverage in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Piper Sandler lowered Monster Beverage from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $50.00 in a report on Tuesday, October 24th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $60.50.
Monster Beverage Stock Up 0.5 %
NASDAQ:MNST opened at $55.54 on Tuesday. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $60.47. The firm has a market capitalization of $57.79 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 1.61 and a beta of 0.83. The stock has a fifty day simple moving average of $52.96 and a 200 day simple moving average of $56.16.
Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Monster Beverage had a return on equity of 20.50% and a net margin of 22.62%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Monster Beverage Co. will post 1.55 earnings per share for the current year.
Monster Beverage announced that its Board of Directors has approved a share buyback program on Wednesday, November 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Monster Beverage Company 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: Finished Product, Concentrate, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas and juice drinks, 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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