Artisan Partners Limited Partnership Reduces Stake in Monster Beverage Corporation (MNST)

Artisan Partners Limited Partnership decreased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,973,152 shares of the company’s stock after selling 16,690 shares during the period. Artisan Partners Limited Partnership owned about 0.88% of Monster Beverage Corporation worth $247,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MNST. Huntington National Bank increased its holdings in 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 last quarter. Commonwealth Bank of Australia increased its holdings in Monster Beverage Corporation by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after buying an additional 232 shares during the last quarter. Dynamic Advisors Solutions LLC acquired a new position in Monster Beverage Corporation in the second quarter worth approximately $202,000. Fiduciary Trust Co. acquired a new position in Monster Beverage Corporation in the second quarter worth approximately $212,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings 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 during the last quarter. Institutional investors own 65.89% of the company’s stock.

In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the transaction, the director now owns 52,000 shares of the company’s stock, 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 owned by insiders.

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MNST has been the topic of a number of research reports. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $63.00 price objective on shares of Monster Beverage Corporation in a report on Friday, June 16th. UBS AG set a $59.00 price objective on Monster Beverage Corporation and gave the stock a “buy” rating in a report on Wednesday, June 21st. Stifel Nicolaus restated a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a report on Tuesday, June 20th. Finally, Zacks Investment Research upgraded Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, July 17th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.86.

Monster Beverage Corporation (NASDAQ MNST) traded up 0.650% during midday trading on Monday, hitting $56.545. The stock had a trading volume of 126,255 shares. The firm 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 1-year low of $40.64 and a 1-year high of $57.25. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of 42.772 and a beta of 0.99.

Monster Beverage Corporation (NASDAQ:MNST) last posted its quarterly 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). 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 firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that Monster Beverage Corporation will post $1.48 earnings per share for the current year.

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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Institutional Ownership by Quarter for Monster Beverage Corporation (NASDAQ:MNST)

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