Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Position in Monster Beverage Corporation (MNST)
Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Monster Beverage Corporation (NASDAQ:MNST) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,901 shares of the company’s stock after selling 2,169 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Monster Beverage Corporation were worth $5,078,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Monster Beverage Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 28,432,909 shares of the company’s stock worth $1,412,547,000 after purchasing an additional 771,913 shares during the period. BlackRock Inc. lifted its position in Monster Beverage Corporation by 1.7% in the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after purchasing an additional 376,666 shares during the period. Jennison Associates LLC lifted its position in Monster Beverage Corporation by 0.6% in the third quarter. Jennison Associates LLC now owns 12,053,475 shares of the company’s stock worth $665,955,000 after purchasing an additional 68,041 shares during the period. Alliancebernstein L.P. lifted its position in Monster Beverage Corporation by 7.5% in the second quarter. Alliancebernstein L.P. now owns 6,679,727 shares of the company’s stock worth $331,849,000 after purchasing an additional 463,345 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Monster Beverage Corporation by 19.7% in the third quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock worth $338,810,000 after purchasing an additional 1,008,607 shares during the period. 65.82% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on MNST shares. Credit Suisse Group cut Monster Beverage Corporation to a “hold” rating in a research report on Friday, September 8th. Macquarie assumed coverage on Monster Beverage Corporation in a report on Thursday, September 14th. They set an “outperform” rating and a $65.00 price objective for the company. BMO Capital Markets reissued a “buy” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a report on Wednesday, September 6th. Citigroup Inc. set a $60.00 price objective on Monster Beverage Corporation and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a report on Saturday, September 23rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Monster Beverage Corporation has a consensus rating of “Buy” and a consensus target price of $58.68.
Shares of Monster Beverage Corporation (NASDAQ:MNST) traded up $0.36 during mid-day trading on Friday, reaching $62.36. The company had a trading volume of 271,344 shares, compared to its average volume of 2,224,466. The firm has a market capitalization of $34,970.00, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 2.19 and a beta of 0.91. Monster Beverage Corporation has a 1 year low of $41.02 and a 1 year high of $62.80.
Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. sell-side analysts anticipate that Monster Beverage Corporation will post 1.48 earnings per share for the current fiscal year.
In other news, Director Sydney Selati sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 52,000 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.40% of the stock is owned by company insiders.
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.
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