Dai Ichi Life Insurance Company Ltd Sells 3,359 Shares of Monster Beverage Corporation (MNST)
Dai Ichi Life Insurance Company Ltd decreased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,939 shares of the company’s stock after selling 3,359 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Monster Beverage Corporation were worth $2,332,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Huntington National Bank raised its stake in Monster Beverage Corporation by 42.2% during the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock valued at $106,000 after buying an additional 633 shares during the last quarter. Commonwealth Bank of Australia raised its stake in Monster Beverage Corporation by 11.0% during the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after buying an additional 232 shares during the last quarter. Assetmark Inc. raised its stake in Monster Beverage Corporation by 7.7% during the first quarter. Assetmark Inc. now owns 4,350 shares of the company’s stock valued at $201,000 after buying an additional 311 shares during the last quarter. Dynamic Advisors Solutions LLC purchased a new position in Monster Beverage Corporation during the second quarter valued at $202,000. Finally, Fiduciary Trust Co. purchased a new position in Monster Beverage Corporation during the second quarter valued at $212,000. Institutional investors and hedge funds own 65.88% of the company’s stock.
MNST has been the subject of a number of recent research reports. Vetr upgraded Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating and set a $52.90 price objective for the company in a research note on Wednesday, May 17th. BMO Capital Markets reiterated an “outperform” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Friday, June 9th. Jefferies Group LLC reiterated a “buy” rating and set a $63.00 price objective on shares of Monster Beverage Corporation in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research note on Friday, June 16th. Finally, Susquehanna Bancshares Inc set a $42.00 price objective on Monster Beverage Corporation and gave the company a “hold” rating in a research note on Monday, June 19th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Monster Beverage Corporation presently has an average rating of “Buy” and a consensus price target of $56.28.
Monster Beverage Corporation (MNST) opened at 56.38 on Thursday. The stock has a 50 day moving average price of $54.42 and a 200 day moving average price of $49.73. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25. The stock has a market cap of $32.03 billion, a PE ratio of 42.65 and a beta of 0.99.
Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The business had revenue of $907.07 million for the quarter, compared to analysts’ expectations of $901.38 million. During the same quarter in the prior year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
In other news, Director Sydney Selati sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the sale, the director now owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.
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Monster Beverage Corporation 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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