Meitav Investment House Ltd. bought a new stake in shares of Monster Beverage Co. (NASDAQ:MNST – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,093 shares of the company’s stock, valued at approximately $292,000.
Several other large investors have also recently modified their holdings of the stock. Cetera Investment Advisers boosted its stake in shares of Monster Beverage by 1.6% during the 1st 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. Blair William & Co. IL lifted 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 worth $203,000 after acquiring an additional 177 shares during the last quarter. Signaturefd LLC increased its stake in Monster Beverage by 0.4% in the 2nd quarter. Signaturefd LLC now owns 52,937 shares of the company’s stock worth $3,041,000 after buying an additional 186 shares during the period. Scissortail Wealth Management LLC purchased a new position in Monster Beverage in the 1st quarter worth about $596,970,000. Finally, Avestar Capital LLC increased its stake in Monster Beverage by 4.9% in the 2nd quarter. Avestar Capital LLC now owns 4,482 shares of the company’s stock worth $257,000 after buying an additional 210 shares during the period. Institutional investors own 64.60% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on MNST shares. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of Monster Beverage in a research note on Monday, August 7th. Piper Sandler downgraded shares of Monster Beverage from an “overweight” rating to a “neutral” rating and cut their target price for the company from $63.00 to $50.00 in a research report on Tuesday, October 24th. HSBC began coverage on shares of Monster Beverage in a research note on Monday, August 14th. They set a “buy” rating and a $72.00 price objective on the stock. Wells Fargo & Company upped their target price on Monster Beverage from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Finally, UBS Group dropped their target price on Monster Beverage from $63.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, August 4th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.50.
Monster Beverage Trading Down 0.6 %
MNST stock opened at $54.79 on Friday. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $60.47. The stock has a market cap of $57.01 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 1.62 and a beta of 0.83. The business’s 50-day moving average is $52.88 and its 200 day moving average is $56.13.
Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share (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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Monster Beverage Co. will post 1.56 EPS for the current fiscal year.
Monster Beverage declared that its Board of Directors has approved a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
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: 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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