Xact Kapitalforvaltning AB lowered its holdings in Monster Beverage Corp (NASDAQ:MNST) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 91,255 shares of the company’s stock after selling 6,678 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Monster Beverage were worth $5,318,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Laurel Wealth Advisors Inc. boosted its stake in Monster Beverage by 14.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 6,594 shares of the company’s stock worth $377,000 after purchasing an additional 836 shares in the last quarter. Lido Advisors LLC acquired a new position in Monster Beverage in the second quarter worth $202,000. Trexquant Investment LP boosted its stake in Monster Beverage by 65.4% in the second quarter. Trexquant Investment LP now owns 12,225 shares of the company’s stock worth $700,000 after purchasing an additional 4,835 shares in the last quarter. BlackRock Inc. boosted its stake in 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 in the last quarter. Finally, US Bancorp DE boosted its stake in Monster Beverage by 17.8% in the second quarter. US Bancorp DE now owns 59,670 shares of the company’s stock worth $3,420,000 after purchasing an additional 9,031 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.
MNST has been the topic of a number of recent analyst reports. ValuEngine lowered Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Guggenheim started coverage on Monster Beverage in a research note on Thursday, September 13th. They set a “buy” rating and a $72.00 price target on the stock. BidaskClub lowered Monster Beverage from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. Stifel Nicolaus upped their price target on Monster Beverage from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. Finally, BMO Capital Markets upped their price target on Monster Beverage from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Monster Beverage has a consensus rating of “Buy” and an average target price of $65.06.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Analysts forecast that Monster Beverage Corp will post 1.73 EPS for the current fiscal year.
Monster Beverage announced that its board has approved a share repurchase plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
In related news, insider Emelie Tirre sold 17,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 46,847 shares in the company, valued at $2,853,450.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.70% of the company’s stock.
Monster Beverage Company Profile
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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