World Asset Management Inc decreased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 11.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 39,324 shares of the company’s stock after selling 4,848 shares during the period. World Asset Management Inc’s holdings in Monster Beverage Corporation were worth $1,954,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after buying an additional 633 shares during the period. Coconut Grove Bank raised its stake in Monster Beverage Corporation by 128.0% in the first quarter. Coconut Grove Bank now owns 2,565 shares of the company’s stock worth $118,000 after buying an additional 1,440 shares in the last quarter. Assetmark Inc. raised its stake in Monster Beverage Corporation by 7.7% in the first quarter. Assetmark Inc. now owns 4,350 shares of the company’s stock worth $201,000 after buying an additional 311 shares in the last quarter. Dynamic Advisors Solutions LLC purchased a new stake in Monster Beverage Corporation during the second quarter worth $202,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Monster Beverage Corporation by 59.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,612 shares of the company’s stock worth $213,000 after buying an additional 1,712 shares in the last quarter. 65.70% of the stock is currently owned by hedge funds and other institutional investors.
Monster Beverage Corporation (NASDAQ MNST) opened at 52.75 on Tuesday. The stock’s 50 day moving average is $51.31 and its 200 day moving average is $47.30. Monster Beverage Corporation has a 52 week low of $40.64 and a 52 week high of $55.50. The stock has a market cap of $29.95 billion, a PE ratio of 42.47 and a beta of 0.95.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $742.10 million for the quarter, compared to analyst estimates of $738.54 million. Monster Beverage Corporation had a net margin of 23.36% and a return on equity of 23.36%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. Analysts predict that Monster Beverage Corporation will post $1.49 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “World Asset Management Inc Sells 4,848 Shares of Monster Beverage Corporation (NASDAQ:MNST)” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://stocknewstimes.com/2017/08/01/world-asset-management-inc-sells-4848-shares-of-monster-beverage-corporation-nasdaqmnst.html.
A number of analysts have recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $58.00 target price on shares of Monster Beverage Corporation in a report on Monday, May 15th. Zacks Investment Research lowered shares of Monster Beverage Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BMO Capital Markets reiterated a “buy” rating on shares of Monster Beverage Corporation in a report on Thursday, April 27th. Cowen and Company reiterated an “outperform” rating and set a $58.00 target price on shares of Monster Beverage Corporation in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Monster Beverage Corporation in a report on Friday, May 5th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $56.75.
About Monster Beverage Corporation
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST).
Receive News & Ratings for Monster Beverage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
