Amalgamated Bank lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 54.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,580 shares of the company’s stock after purchasing an additional 17,109 shares during the quarter. Amalgamated Bank’s holdings in Monster Beverage Corporation were worth $2,413,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Huntington National Bank increased its holdings 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 purchasing an additional 633 shares during the last quarter. Commonwealth Bank of Australia increased its stake in Monster Beverage Corporation by 11.0% during the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after acquiring an additional 232 shares during the last quarter. Dynamic Advisors Solutions LLC bought a new stake in Monster Beverage Corporation during the second quarter worth approximately $202,000. Fiduciary Trust Co. bought a new stake in Monster Beverage Corporation during the second quarter worth approximately $212,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Monster Beverage Corporation by 59.0% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,612 shares of the company’s stock worth $213,000 after acquiring an additional 1,712 shares during the last quarter. 65.88% of the stock is currently owned by hedge funds and other institutional investors.
MNST has been the topic of several analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Friday, June 9th. Jefferies Group LLC reissued a “buy” rating and set a $63.00 price objective on shares of Monster Beverage Corporation in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research note on Friday, June 16th. Susquehanna Bancshares Inc set a $42.00 price objective on Monster Beverage Corporation and gave the stock a “hold” rating in a research note on Monday, June 19th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research note on Tuesday, June 20th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $56.86.
In related news, Director Sydney Selati sold 10,000 shares of Monster Beverage Corporation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the sale, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.40% of the stock is currently owned by company insiders.
Shares of Monster Beverage Corporation (MNST) opened at 56.18 on Friday. The company has a 50 day moving average price of $54.65 and a 200-day moving average price of $49.93. Monster Beverage Corporation has a one year low of $40.64 and a one year high of $57.25. The stock has a market cap of $31.92 billion, a price-to-earnings ratio of 42.50 and a beta of 0.99.
Monster Beverage Corporation (NASDAQ:MNST) last posted its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The company had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. During the same quarter last year, the business posted $0.99 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.
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Monster Beverage Corporation 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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