Crossmark Global Holdings Inc. bought a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,549 shares of the company’s stock, valued at approximately $2,240,000.
Several other institutional investors have also made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in Monster Beverage Corporation in the 3rd quarter valued at $182,000. First Quadrant L P CA increased its stake in Monster Beverage Corporation by 747.4% in the 3rd quarter. First Quadrant L P CA now owns 55,481 shares of the company’s stock valued at $3,065,000 after buying an additional 48,934 shares during the period. Liberty Capital Management Inc. increased its stake in Monster Beverage Corporation by 2,028.0% in the 3rd quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock valued at $120,000 after buying an additional 2,028 shares during the period. Korea Investment CORP increased its stake in Monster Beverage Corporation by 4.8% in the 3rd quarter. Korea Investment CORP now owns 599,910 shares of the company’s stock valued at $33,145,000 after buying an additional 27,700 shares during the period. Finally, Aperio Group LLC increased its stake in Monster Beverage Corporation by 40.9% in the 3rd quarter. Aperio Group LLC now owns 174,438 shares of the company’s stock valued at $9,638,000 after buying an additional 50,625 shares during the period. 64.89% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $69.00 price objective (up from $62.00) on shares of Monster Beverage Corporation in a research note on Monday. Susquehanna Bancshares Inc cut shares of Monster Beverage Corporation from a “neutral” rating to a “negative” rating and set a $51.00 price objective on the stock. in a research note on Monday. Citigroup Inc. cut shares of Monster Beverage Corporation to a “neutral” rating and dropped their price objective for the company from $56.00 to $51.00 in a research note on Monday. They noted that the move was a valuation call. UBS AG lowered shares of Monster Beverage Corporation to a “neutral” rating in a research report on Monday. Finally, BMO Capital Markets restated an “outperform” rating and set a $65.00 target price (up from $58.00) on shares of Monster Beverage Corporation in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $58.74.
Monster Beverage Corporation (NASDAQ:MNST) last released its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $909.50 million for the quarter, compared to analyst estimates of $903.82 million. Monster Beverage Corporation had a net margin of 23.92% and a return on equity of 23.45%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. equities analysts anticipate that Monster Beverage Corporation will post 1.48 earnings per share for the current year.
In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now directly owns 52,000 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.40% of the stock is currently owned by corporate insiders.
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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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