Monster Beverage Corporation (MNST) Stake Increased by Granite Investment Partners LLC
Granite Investment Partners LLC grew its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 27.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,618 shares of the company’s stock after buying an additional 10,077 shares during the quarter. Granite Investment Partners LLC’s holdings in Monster Beverage Corporation were worth $2,576,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. LS Investment Advisors LLC lifted its stake in shares of Monster Beverage Corporation by 3.6% during the second quarter. LS Investment Advisors LLC now owns 11,602 shares of the company’s stock worth $576,000 after purchasing an additional 400 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Monster Beverage Corporation by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock valued at $1,242,000 after buying an additional 300 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Monster Beverage Corporation by 14.3% during the second quarter. Aperio Group LLC now owns 123,813 shares of the company’s stock valued at $6,151,000 after purchasing an additional 15,491 shares during the last quarter. First Quadrant L P CA grew its holdings in shares of Monster Beverage Corporation by 9.1% during the second quarter. First Quadrant L P CA now owns 6,547 shares of the company’s stock valued at $325,000 after purchasing an additional 547 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Monster Beverage Corporation by 7.2% in the 2nd quarter. US Bancorp DE now owns 44,732 shares of the company’s stock worth $2,222,000 after buying an additional 3,009 shares in the last quarter. 64.89% of the stock is owned by institutional investors and hedge funds.
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In related news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were 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 $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.40% of the company’s stock.
Monster Beverage Corporation (MNST) traded up $0.11 during trading on Wednesday, hitting $61.27. 2,550,100 shares of the company’s stock were exchanged, compared to its average volume of 2,225,042. Monster Beverage Corporation has a 12-month low of $41.02 and a 12-month high of $62.80. The company has a market capitalization of $34,492.00, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. Monster Beverage Corporation had a net margin of 23.92% and a return on equity of 23.45%. The company had revenue of $909.50 million for the quarter, compared to analyst estimates of $903.82 million. During the same period last year, the firm earned $0.34 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. analysts predict that Monster Beverage Corporation will post 1.48 earnings per share for the current year.
A number of brokerages have recently commented on MNST. Citigroup Inc. set a $60.00 price objective on Monster Beverage Corporation and gave the company a “buy” rating in a research report on Wednesday, October 18th. Susquehanna Bancshares Inc reaffirmed a “hold” rating and issued a $42.00 price objective (down from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. BMO Capital Markets reissued a “buy” rating and set a $58.00 price target on shares of Monster Beverage Corporation in a research report on Wednesday, September 6th. Credit Suisse Group cut their price objective on shares of Monster Beverage Corporation from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a research report on Saturday, September 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $58.74.
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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