Chemical Bank cut its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,405 shares of the company’s stock after selling 362 shares during the quarter. Chemical Bank’s holdings in Monster Beverage Corporation were worth $219,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MNST. FMR LLC increased its position in shares of Monster Beverage Corporation by 0.4% during the first quarter. FMR LLC now owns 44,820,069 shares of the company’s stock valued at $2,069,342,000 after purchasing an additional 194,334 shares during the period. Vanguard Group Inc. increased its position in shares of Monster Beverage Corporation by 3.0% during the first quarter. Vanguard Group Inc. now owns 27,660,996 shares of the company’s stock valued at $1,277,108,000 after purchasing an additional 799,703 shares during the period. BlackRock Inc. increased its position in shares of Monster Beverage Corporation by 1,887.5% during the first quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock valued at $995,459,000 after purchasing an additional 20,475,879 shares during the period. Loomis Sayles & Co. L P increased its position in shares of Monster Beverage Corporation by 0.8% during the first quarter. Loomis Sayles & Co. L P now owns 20,621,437 shares of the company’s stock valued at $952,091,000 after purchasing an additional 169,196 shares during the period. Finally, State Street Corp increased its position in shares of Monster Beverage Corporation by 1.2% during the first quarter. State Street Corp now owns 16,907,767 shares of the company’s stock valued at $780,633,000 after purchasing an additional 203,730 shares during the period. Institutional investors own 65.88% of the company’s stock.

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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of Monster Beverage Corporation stock in a transaction 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 completion of the transaction, the director now directly owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.40% of the stock is owned by insiders.

Shares of Monster Beverage Corporation (NASDAQ MNST) opened at 56.18 on Friday. The company has a market capitalization of $31.92 billion, a PE ratio of 42.50 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. The firm has a 50-day moving average price of $54.65 and a 200-day moving average price of $49.93.

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

A number of analysts have recently issued reports on MNST shares. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and set a $63.00 price objective on shares of Monster Beverage Corporation in a research report on Friday, June 16th. UBS AG set a $59.00 price objective on Monster Beverage Corporation and gave the company a “buy” rating in a research report on Wednesday, June 21st. Stifel Nicolaus restated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research report on Tuesday, June 20th. Finally, Zacks Investment Research upgraded Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Monday, July 17th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.86.

About Monster Beverage Corporation

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.

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

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