Montag & Caldwell LLC cut its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 28.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,710,350 shares of the company’s stock after selling 674,094 shares during the period. Monster Beverage Corporation accounts for approximately 2.5% of Montag & Caldwell LLC’s investment portfolio, making the stock its 23rd largest position. Montag & Caldwell LLC’s holdings in Monster Beverage Corporation were worth $84,970,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MNST. United Capital Financial Advisers LLC increased its stake in shares of Monster Beverage Corporation by 0.4% in the first quarter. United Capital Financial Advisers LLC now owns 9,878 shares of the company’s stock worth $456,000 after buying an additional 38 shares in the last quarter. Accuvest Global Advisors increased its stake in shares of Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock worth $510,000 after buying an additional 38 shares in the last quarter. Wendell David Associates Inc. increased its stake in shares of Monster Beverage Corporation by 0.9% in the second quarter. Wendell David Associates Inc. now owns 7,264 shares of the company’s stock worth $361,000 after buying an additional 64 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Monster Beverage Corporation by 0.5% in the second quarter. IFP Advisors Inc now owns 12,691 shares of the company’s stock worth $630,000 after buying an additional 66 shares in the last quarter. Finally, Advisor Partners LLC increased its stake in shares of Monster Beverage Corporation by 1.1% in the second quarter. Advisor Partners LLC now owns 7,898 shares of the company’s stock worth $392,000 after buying an additional 87 shares in the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Monster Beverage Corporation (MNST) traded up 1.28% on Friday, reaching $53.19. The company had a trading volume of 220,582 shares. Monster Beverage Corporation has a one year low of $40.64 and a one year high of $54.24. The company’s 50-day moving average is $51.76 and its 200-day moving average is $47.74. The company has a market capitalization of $30.22 billion, a PE ratio of 40.23 and a beta of 0.96.

Monster Beverage Corporation (NASDAQ:MNST) last announced its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The company had revenue of $907.07 million during the quarter, compared to analysts’ expectations of $901.38 million. During the same quarter last year, the firm posted $0.99 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current year.

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A number of equities research analysts have weighed in on the company. Credit Suisse Group set a $59.00 target price on Monster Beverage Corporation and gave the company a “buy” rating in a report on Saturday, May 6th. UBS AG set a $59.00 target price on Monster Beverage Corporation and gave the company a “buy” rating in a report on Wednesday, June 21st. Jefferies Group LLC raised their target price on Monster Beverage Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded Monster Beverage Corporation from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Goldman Sachs Group, Inc. (The) raised their target price on Monster Beverage Corporation from $54.00 to $57.00 and gave the company a “buy” rating in a report on Friday, May 5th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Monster Beverage Corporation currently has an average rating of “Buy” and a consensus target price of $56.28.

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

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