Monster Beverage Corporation (MNST) Position Boosted by Amundi Pioneer Asset Management Inc.
Amundi Pioneer Asset Management Inc. increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 58.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,636 shares of the company’s stock after buying an additional 57,952 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Monster Beverage were worth $8,709,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Atlantic Trust Group LLC raised its holdings in shares of Monster Beverage by 4.3% during the second quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock worth $24,056,000 after acquiring an additional 19,966 shares in the last quarter. BlackRock Inc. raised its stake in shares of Monster Beverage by 1.7% in the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock valued at $1,089,848,000 after acquiring an additional 376,666 shares during the last quarter. Cim Investment Mangement Inc. raised its stake in shares of Monster Beverage by 250.5% in the second quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock valued at $1,142,000 after acquiring an additional 16,426 shares during the last quarter. Chilton Investment Co. LLC bought a new position in shares of Monster Beverage in the second quarter valued at approximately $35,322,000. Finally, Skylands Capital LLC bought a new position in shares of Monster Beverage in the third quarter valued at approximately $276,000. Institutional investors own 65.84% of the company’s stock.
A number of brokerages recently weighed in on MNST. Jefferies Group raised their price target on shares of Monster Beverage from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and issued a $57.00 price target on shares of Monster Beverage in a report on Saturday, September 23rd. Credit Suisse Group lowered shares of Monster Beverage to a “hold” rating in a report on Friday, September 8th. Cowen reaffirmed an “outperform” rating and set a $67.00 target price (up previously from $58.00) on shares of Monster Beverage in a report on Thursday, November 9th. Finally, Citigroup lowered shares of Monster Beverage to a “neutral” rating and lowered their target price for the stock from $56.00 to $51.00 in a report on Monday, November 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $59.24.
Monster Beverage Corporation (NASDAQ:MNST) opened at $62.67 on Friday. Monster Beverage Corporation has a fifty-two week low of $41.02 and a fifty-two week high of $62.80. The stock has a market cap of $35,016.48, a price-to-earnings ratio of 42.24, a PEG ratio of 2.21 and a beta of 0.91.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The company had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. During the same quarter in the previous year, the business earned $0.34 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. equities research analysts anticipate that Monster Beverage Corporation will post 1.48 earnings per share for the current year.
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About Monster Beverage
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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