Sei Investments Co. Sells 82,643 Shares of Monster Beverage Corp (MNST)

Sei Investments Co. cut its holdings in Monster Beverage Corp (NASDAQ:MNST) by 16.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 432,077 shares of the company’s stock after selling 82,643 shares during the period. Sei Investments Co.’s holdings in Monster Beverage were worth $24,758,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MNST. State Treasurer State of Michigan lifted its holdings in Monster Beverage by 0.8% in the 1st quarter. State Treasurer State of Michigan now owns 121,692 shares of the company’s stock valued at $6,962,000 after purchasing an additional 1,000 shares in the last quarter. Supplemental Annuity Collective Trust of NJ lifted its holdings in Monster Beverage by 25.0% in the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 5,000 shares of the company’s stock valued at $287,000 after purchasing an additional 1,000 shares in the last quarter. Sawtooth Solutions LLC lifted its holdings in Monster Beverage by 22.9% in the 1st quarter. Sawtooth Solutions LLC now owns 5,554 shares of the company’s stock valued at $318,000 after purchasing an additional 1,035 shares in the last quarter. Pinnacle Financial Partners Inc. lifted its holdings in Monster Beverage by 7.6% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 15,578 shares of the company’s stock valued at $892,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Monster Beverage by 1.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 74,094 shares of the company’s stock valued at $4,239,000 after purchasing an additional 1,122 shares in the last quarter. Institutional investors and hedge funds own 65.14% of the company’s stock.

NASDAQ MNST opened at $60.70 on Friday. Monster Beverage Corp has a 12 month low of $47.61 and a 12 month high of $70.21. The stock has a market cap of $34.31 billion, a PE ratio of 37.64, a P/E/G ratio of 2.21 and a beta of 1.34.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. Monster Beverage had a net margin of 25.27% and a return on equity of 24.39%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. sell-side analysts forecast that Monster Beverage Corp will post 1.73 earnings per share for the current year.

Monster Beverage declared that its board has approved a share buyback plan on Wednesday, May 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

MNST has been the topic of a number of recent research reports. Stifel Nicolaus set a $71.00 target price on shares of Monster Beverage and gave the company a “buy” rating in a report on Wednesday, April 25th. Morgan Stanley upped their target price on shares of Monster Beverage from $61.00 to $63.00 and gave the company a “buy” rating in a report on Monday, June 11th. BMO Capital Markets upped their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, July 19th. BidaskClub lowered shares of Monster Beverage from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Finally, Susquehanna Bancshares set a $45.00 target price on shares of Monster Beverage and gave the company a “sell” rating in a report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Monster Beverage has a consensus rating of “Buy” and an average price target of $63.94.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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

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