Sentry Investment Management LLC cut its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 30.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,618 shares of the company’s stock after selling 8,106 shares during the quarter. Sentry Investment Management LLC’s holdings in Monster Beverage were worth $1,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Monster Beverage by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 668,929 shares of the company’s stock valued at $38,270,000 after purchasing an additional 26,656 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Monster Beverage by 51.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 18,753 shares of the company’s stock valued at $1,075,000 after purchasing an additional 6,362 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Monster Beverage by 26.7% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,592 shares of the company’s stock valued at $435,000 after purchasing an additional 1,600 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Monster Beverage by 11.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 97,933 shares of the company’s stock valued at $5,612,000 after purchasing an additional 10,232 shares during the period. Finally, Gateway Investment Advisers LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at about $18,154,000. 65.02% of the stock is owned by institutional investors.

NASDAQ:MNST opened at $56.84 on Friday. The stock has a market capitalization of $30.89 billion, a P/E ratio of 38.93, a P/E/G ratio of 2.02 and a beta of 1.36. Monster Beverage Corp has a 52-week low of $47.61 and a 52-week high of $70.21.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.73 million. Monster Beverage had a return on equity of 25.64% and a net margin of 25.86%. Monster Beverage’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Research analysts expect that Monster Beverage Corp will post 1.75 EPS for the current year.

Monster Beverage announced that its board has initiated a share repurchase plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several analysts have issued reports on the company. Citigroup set a $64.00 price target on Monster Beverage and gave the company a “buy” rating in a research note on Friday. Goldman Sachs Group raised Monster Beverage from a “buy” rating to a “conviction-buy” rating in a research note on Friday. BMO Capital Markets dropped their price target on Monster Beverage to $60.00 and set an “outperform” rating on the stock in a research note on Friday. They noted that the move was a valuation call. BidaskClub raised Monster Beverage from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research raised Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.63.

In related news, insider Emelie Tirre sold 17,000 shares of Monster Beverage stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $60.91, for a total value of $1,035,470.00. Following the sale, the insider now owns 46,847 shares of the company’s stock, valued at $2,853,450.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.70% of the stock is currently owned by insiders.

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Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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

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