Monster Beverage Corporation (MNST) Holdings Cut by Ameriprise Financial Inc.
Ameriprise Financial Inc. lowered its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 15.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,241,981 shares of the company’s stock after selling 1,545,698 shares during the period. Ameriprise Financial Inc. owned approximately 1.45% of Monster Beverage Corporation worth $409,463,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of MNST. Huntington National Bank lifted its holdings in shares of Monster Beverage Corporation by 42.2% during the 2nd quarter. Huntington National Bank now owns 2,133 shares of the company’s stock valued at $106,000 after purchasing an additional 633 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Monster Beverage Corporation by 11.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after purchasing an additional 232 shares in the last quarter. Dynamic Advisors Solutions LLC bought a new position in shares of Monster Beverage Corporation during the 2nd quarter valued at about $202,000. Fiduciary Trust Co. bought a new position in shares of Monster Beverage Corporation during the 2nd quarter valued at about $212,000. Finally, Assetmark Inc. lifted its holdings in shares of Monster Beverage Corporation by 7.7% during the 1st quarter. Assetmark Inc. now owns 4,350 shares of the company’s stock valued at $201,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 65.88% of the company’s stock.
Several equities analysts have recently weighed in on MNST shares. Credit Suisse Group set a $61.00 price objective on Monster Beverage Corporation and gave the company an “outperform” rating in a report on Wednesday, August 9th. BidaskClub upgraded Monster Beverage Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a report on Friday, June 16th. Stifel Nicolaus reiterated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a report on Wednesday, August 9th. Finally, UBS AG set a $59.00 price objective on Monster Beverage Corporation and gave the company a “buy” rating in a report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $56.28.
In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the director now owns 52,000 shares in the company, valued at $2,912,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.40% of the stock is currently owned by corporate insiders.
Shares of Monster Beverage Corporation (NASDAQ MNST) traded up 0.32% during midday trading on Wednesday, reaching $56.26. The company had a trading volume of 415,580 shares. The stock’s 50 day moving average is $54.37 and its 200-day moving average is $49.69. The stock has a market capitalization of $31.97 billion, a PE ratio of 42.56 and a beta of 0.99. Monster Beverage Corporation has a 12-month low of $40.64 and a 12-month high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly 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). The firm had revenue of $907.07 million during the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. On average, equities research analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.
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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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