Principal Financial Group Inc. raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 11.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,320 shares of the company’s stock after purchasing an additional 68,338 shares during the period. Principal Financial Group Inc. owned 0.12% of Monster Beverage Corporation worth $37,698,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Capital Advisors LLC increased its holdings in shares of Monster Beverage Corporation by 6,737.7% during the 2nd quarter. Harbour Capital Advisors LLC now owns 890,266 shares of the company’s stock valued at $17,920,000 after acquiring an additional 877,246 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Monster Beverage Corporation by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock valued at $1,412,547,000 after acquiring an additional 771,913 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Monster Beverage Corporation by 186.2% during the 2nd quarter. Nationwide Fund Advisors now owns 1,175,384 shares of the company’s stock valued at $58,393,000 after acquiring an additional 764,665 shares during the last quarter. Chilton Investment Co. LLC acquired a new position in shares of Monster Beverage Corporation during the 2nd quarter valued at about $35,322,000. Finally, American Century Companies Inc. increased its holdings in shares of Monster Beverage Corporation by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 4,968,946 shares of the company’s stock valued at $246,857,000 after acquiring an additional 619,349 shares during the last quarter. 65.82% of the stock is owned by institutional investors.
Shares of Monster Beverage Corporation (NASDAQ:MNST) opened at $62.00 on Friday. The company has a market capitalization of $34,740.14, a P/E ratio of 41.90, a price-to-earnings-growth ratio of 2.19 and a beta of 0.91. Monster Beverage Corporation has a 52-week low of $41.02 and a 52-week high of $62.80.
Monster Beverage Corporation (NASDAQ:MNST) last posted its earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $909.50 million during the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. Monster Beverage Corporation’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. equities analysts expect that Monster Beverage Corporation will post 1.48 earnings per share for the current year.
In related news, Director Sydney Selati sold 10,000 shares of the firm’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 completion of the transaction, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.40% of the stock is owned by company insiders.
A number of research analysts have recently commented on MNST shares. Credit Suisse Group lowered Monster Beverage Corporation to a “hold” rating in a report on Friday, September 8th. Macquarie started coverage on Monster Beverage Corporation in a report on Thursday, September 14th. They set an “outperform” rating and a $65.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a report on Wednesday, September 6th. Citigroup Inc. set a $60.00 price objective on Monster Beverage Corporation and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a report on Saturday, September 23rd. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Monster Beverage Corporation currently has an average rating of “Buy” and a consensus price target of $58.68.
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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