Investment Management Corp of Ontario Acquires 45,646 Shares of Monster Beverage Corporation $MNST

Investment Management Corp of Ontario grew its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 24.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 230,516 shares of the company’s stock after purchasing an additional 45,646 shares during the quarter. Investment Management Corp of Ontario’s holdings in Monster Beverage were worth $14,440,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AXA S.A. raised its holdings in shares of Monster Beverage by 0.7% in the second quarter. AXA S.A. now owns 595,790 shares of the company’s stock valued at $37,320,000 after buying an additional 3,918 shares during the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new stake in Monster Beverage in the 2nd quarter valued at about $667,000. Lombard Odier Asset Management Switzerland SA increased its position in Monster Beverage by 13.2% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 57,257 shares of the company’s stock valued at $3,587,000 after acquiring an additional 6,684 shares in the last quarter. State Street Corp raised its stake in shares of Monster Beverage by 2.6% in the second quarter. State Street Corp now owns 34,929,818 shares of the company’s stock worth $2,188,004,000 after acquiring an additional 900,479 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Monster Beverage by 5.8% during the second quarter. Daiwa Securities Group Inc. now owns 220,293 shares of the company’s stock worth $13,799,000 after purchasing an additional 12,054 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Up 0.3%

Shares of Monster Beverage stock opened at $73.94 on Tuesday. The business has a fifty day simple moving average of $70.32 and a 200 day simple moving average of $65.31. The stock has a market cap of $72.24 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 2.22 and a beta of 0.48. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $76.28.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. Analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

MNST has been the subject of a number of research reports. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price target on shares of Monster Beverage in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $73.00 price target (up previously from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, Morgan Stanley reissued an “overweight” rating and set a $81.00 price objective (up from $74.00) on shares of Monster Beverage in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.45.

Insiders Place Their Bets

In related news, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the transaction, the insider owned 21,993 shares of the company’s stock, valued at $1,568,760.69. This trade represents a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is owned by insiders.

Monster Beverage Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.