Louisiana State Employees Retirement System lowered its position in Monster Beverage Corp (NASDAQ:MNST) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,600 shares of the company’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Monster Beverage were worth $1,274,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. West Oak Capital LLC purchased a new stake in Monster Beverage during the 2nd quarter worth about $38,000. Old North State Trust LLC purchased a new stake in Monster Beverage during the 1st quarter worth about $48,000. SevenBridge Financial Group LLC purchased a new stake in Monster Beverage during the 2nd quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Monster Beverage during the 1st quarter worth about $55,000. Finally, Field & Main Bank purchased a new stake in Monster Beverage during the 1st quarter worth about $55,000. Institutional investors and hedge funds own 66.21% of the company’s stock.
A number of analysts recently commented on MNST shares. BidaskClub cut Monster Beverage from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Co lifted their price objective on Monster Beverage from $56.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 29th. Jefferies Financial Group lifted their price objective on Monster Beverage from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded Monster Beverage from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, BMO Capital Markets decreased their price target on Monster Beverage from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Monster Beverage currently has a consensus rating of “Hold” and an average target price of $65.21.
Shares of NASDAQ:MNST opened at $56.95 on Friday. The firm has a market cap of $31.62 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 1.98 and a beta of 1.30. Monster Beverage Corp has a 12-month low of $47.74 and a 12-month high of $66.38. The stock’s 50-day moving average price is $63.30 and its two-hundred day moving average price is $60.52.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.03). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. On average, equities analysts predict that Monster Beverage Corp will post 2.05 earnings per share for the current year.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.
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