World Asset Management Inc lowered its position in Monster Beverage Corporation (NASDAQ:MNST) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in Monster Beverage Corporation by 40.1% in the second quarter. Daiwa Securities Group Inc. now owns 19,550 shares of the company’s stock worth $971,000 after buying an additional 5,600 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Monster Beverage Corporation by 152.3% in the second quarter. Grove Bank & Trust now owns 6,471 shares of the company’s stock worth $321,000 after buying an additional 3,906 shares during the last quarter. Accuvest Global Advisors boosted its position in shares of Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock worth $510,000 after buying an additional 38 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Monster Beverage Corporation by 3.4% in the second quarter. CIBC Asset Management Inc now owns 62,323 shares of the company’s stock worth $3,096,000 after buying an additional 2,067 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC acquired a new position in shares of Monster Beverage Corporation during the second quarter worth about $425,000. 65.87% of the stock is currently owned by hedge funds and other institutional investors.
Monster Beverage Corporation (NASDAQ MNST) traded up 0.63% on Friday, reaching $54.05. 1,930,337 shares of the company’s stock were exchanged. The stock has a market capitalization of $30.71 billion, a PE ratio of 40.89 and a beta of 0.96. The firm has a 50 day moving average of $52.28 and a 200 day moving average of $48.22. Monster Beverage Corporation has a 12 month low of $40.64 and a 12 month high of $159.90.
Monster Beverage Corporation (NASDAQ:MNST) last released its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. The company had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. Equities analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.
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MNST has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Monday, July 17th. Goldman Sachs Group, Inc. (The) lifted their target price on shares of Monster Beverage Corporation from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Cowen and Company reissued a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Friday, July 14th. Vetr raised shares of Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating and set a $52.90 price objective for the company in a research report on Wednesday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Monday, May 15th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.28.
Monster Beverage Corporation Company Profile
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.
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