Granite Investment Partners LLC purchased a new position in Monster Beverage Corp. (NASDAQ:MNST) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,470 shares of the company’s stock, valued at approximately $1,390,000.

A number of other institutional investors have also recently made changes to their positions in MNST. Panagora Asset Management Inc. boosted its position in shares of Monster Beverage Corp. by 126.3% in the first quarter. Panagora Asset Management Inc. now owns 29,619 shares of the company’s stock worth $3,951,000 after buying an additional 16,533 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Monster Beverage Corp. by 0.5% in the first quarter. Arizona State Retirement System now owns 40,700 shares of the company’s stock worth $5,429,000 after buying an additional 200 shares during the last quarter. Seven Eight Capital LLC boosted its position in shares of Monster Beverage Corp. by 120.0% in the first quarter. Seven Eight Capital LLC now owns 2,200 shares of the company’s stock worth $293,000 after buying an additional 1,200 shares during the last quarter. Euclid Advisors LLC boosted its position in shares of Monster Beverage Corp. by 84.7% in the first quarter. Euclid Advisors LLC now owns 16,701 shares of the company’s stock worth $2,228,000 after buying an additional 7,661 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its position in shares of Monster Beverage Corp. by 74.3% in the first quarter. First Republic Investment Management Inc. now owns 16,014 shares of the company’s stock worth $2,136,000 after buying an additional 6,827 shares during the last quarter. Institutional investors own 21.86% of the company’s stock.

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

Shares of Monster Beverage Corp. (NASDAQ:MNST) traded down 0.02% during midday trading on Tuesday, reaching $45.28. 3,985,490 shares of the company’s stock were exchanged. Monster Beverage Corp. has a one year low of $37.69 and a one year high of $55.50. The company’s 50-day moving average is $98.85 and its 200-day moving average is $140.25. The stock has a market cap of $25.85 billion, a P/E ratio of 40.65 and a beta of 0.89.

Monster Beverage Corp. (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by $0.13. The company earned $788 million during the quarter, compared to analyst estimates of $819.90 million. Monster Beverage Corp. had a net margin of 23.07% and a return on equity of 17.06%. Monster Beverage Corp.’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. Equities analysts expect that Monster Beverage Corp. will post $1.24 earnings per share for the current fiscal year.

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Several equities analysts have issued reports on MNST shares. Jefferies Group restated a “hold” rating on shares of Monster Beverage Corp. in a research note on Monday, August 1st. Stifel Nicolaus upped their target price on shares of Monster Beverage Corp. from $55.00 to $61.67 and gave the company a “buy” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Monster Beverage Corp. from $55.00 to $56.67 and gave the company an “overweight” rating in a research note on Friday, August 5th. BMO Capital Markets restated a “buy” rating and set a $55.00 target price on shares of Monster Beverage Corp. in a research note on Friday, August 5th. Finally, Royal Bank Of Canada upped their target price on shares of Monster Beverage Corp. from $55.33 to $63.33 and gave the company an “outperform” rating in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Monster Beverage Corp. currently has a consensus rating of “Buy” and a consensus price target of $54.02.

About Monster Beverage Corp.

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.

5 Day Chart for NASDAQ:MNST

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