Wells Fargo & Company MN cut its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,306,096 shares of the company’s stock after selling 133,945 shares during the period. Wells Fargo & Company MN owned about 0.58% of Monster Beverage worth $182,662,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MNST. Commonwealth Bank of Australia increased its holdings in shares of Monster Beverage by 11.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after buying an additional 232 shares during the last quarter. Liberty Capital Management Inc. increased its holdings in shares of Monster Beverage by 2,028.0% in the 3rd quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after buying an additional 2,028 shares during the last quarter. Sun Life Financial INC increased its holdings in shares of Monster Beverage by 29,250.0% in the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after buying an additional 2,925 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Monster Beverage by 397.6% in the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after buying an additional 2,143 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Monster Beverage in the 3rd quarter worth about $182,000. Hedge funds and other institutional investors own 65.84% of the company’s stock.

A number of analysts have recently weighed in on the stock. Jefferies Group boosted their target price on shares of Monster Beverage from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and issued a $57.00 target price on shares of Monster Beverage in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Credit Suisse Group set a $61.00 target price on shares of Monster Beverage and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, Susquehanna Bancshares set a $51.00 target price on shares of Monster Beverage and gave the stock a “sell” rating in a report on Monday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.24.

Monster Beverage Corporation (NASDAQ:MNST) opened at $62.92 on Friday. The company has a market cap of $35,343.58, a PE ratio of 42.63, a P/E/G ratio of 2.23 and a beta of 0.94. Monster Beverage Corporation has a fifty-two week low of $41.02 and a fifty-two week high of $62.94.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $909.50 million for the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. equities analysts expect that Monster Beverage Corporation will post 1.48 EPS 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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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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