Oppenheimer Asset Management Inc. cut its holdings in Monster Beverage Corp (NASDAQ:MNST) by 6.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,032 shares of the company’s stock after selling 5,043 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Monster Beverage were worth $4,082,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Monster Beverage by 2.6% in the second quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock worth $1,365,558,000 after purchasing an additional 604,939 shares during the period. Voya Investment Management LLC increased its stake in shares of Monster Beverage by 24.4% in the second quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after purchasing an additional 1,071,066 shares during the period. Northern Trust Corp increased its stake in shares of Monster Beverage by 2.5% in the second quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after purchasing an additional 121,766 shares during the period. American Century Companies Inc. increased its stake in shares of Monster Beverage by 10.6% in the second quarter. American Century Companies Inc. now owns 4,427,388 shares of the company’s stock worth $253,689,000 after purchasing an additional 423,841 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Monster Beverage by 414.7% in the second quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock worth $245,188,000 after purchasing an additional 3,447,585 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.
In other news, insider Emelie Tirre sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $60.91, for a total value of $1,035,470.00. Following the sale, the insider now directly owns 46,847 shares in the company, valued at approximately $2,853,450.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.70% of the company’s stock.
MNST stock opened at $51.32 on Tuesday. Monster Beverage Corp has a 1-year low of $47.61 and a 1-year high of $70.21. The company has a market capitalization of $28.21 billion, a PE ratio of 35.15, a P/E/G ratio of 1.84 and a beta of 1.36.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts predict that Monster Beverage Corp will post 1.73 earnings per share for the current year.
Monster Beverage announced that its board has authorized a stock repurchase plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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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