Rational Advisors LLC Has $1.56 Million Stake in Monster Beverage Corp (MNST)
Rational Advisors LLC boosted its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 271.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,794 shares of the company’s stock after acquiring an additional 19,588 shares during the quarter. Rational Advisors LLC’s holdings in Monster Beverage were worth $1,561,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in Monster Beverage by 2.6% during the 2nd quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock worth $1,365,558,000 after acquiring an additional 604,939 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Monster Beverage by 47.2% during the 3rd quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock worth $720,297,000 after acquiring an additional 3,961,104 shares during the last quarter. Voya Investment Management LLC grew its holdings in Monster Beverage by 24.4% during the 2nd quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after acquiring an additional 1,071,066 shares during the last quarter. Northern Trust Corp grew its holdings in Monster Beverage by 2.5% during the 2nd quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after acquiring an additional 121,766 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Monster Beverage by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 4,427,388 shares of the company’s stock worth $253,689,000 after acquiring an additional 423,841 shares during the last quarter. 63.49% of the stock is currently owned by hedge funds and other institutional investors.
MNST has been the topic of a number of research analyst reports. Morgan Stanley lowered shares of Monster Beverage from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $50.02 to $57.00 in a report on Thursday, November 8th. ValuEngine lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Zacks Investment Research lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Finally, Jefferies Financial Group increased their price objective on shares of Monster Beverage from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.38.
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. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.73 million. During the same period in the prior year, the company posted $0.40 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Monster Beverage Corp will post 1.77 earnings per share for the current year.
Monster Beverage announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Monster Beverage news, insider Emelie Tirre sold 17,000 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the transaction, the insider now directly owns 46,847 shares in the company, valued at approximately $2,853,450.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.70% of the company’s stock.
About Monster Beverage
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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