Dock Street Asset Management Inc. Has $4.90 Million Position in Monster Beverage Corporation (NASDAQ:MNST)

Dock Street Asset Management Inc. increased its stake in Monster Beverage Corporation (NASDAQ:MNST) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,664 shares of the company’s stock after buying an additional 11,358 shares during the period. Monster Beverage Corporation comprises 2.3% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 21st largest position. Dock Street Asset Management Inc.’s holdings in Monster Beverage Corporation were worth $4,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its position in shares of Monster Beverage Corporation by 40.1% in the second quarter. Daiwa Securities Group Inc. now owns 19,550 shares of the company’s stock valued at $971,000 after buying an additional 5,600 shares during the period. Grove Bank & Trust increased its stake in Monster Beverage Corporation by 152.3% in the second quarter. Grove Bank & Trust now owns 6,471 shares of the company’s stock valued at $321,000 after buying an additional 3,906 shares in the last quarter. Accuvest Global Advisors increased its stake in Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock valued at $510,000 after buying an additional 38 shares in the last quarter. CIBC Asset Management Inc increased its stake in Monster Beverage Corporation by 3.4% in the second quarter. CIBC Asset Management Inc now owns 62,323 shares of the company’s stock valued at $3,096,000 after buying an additional 2,067 shares in the last quarter. Finally, Pillar Pacific Capital Management LLC acquired a new stake in Monster Beverage Corporation during the second quarter valued at $425,000. Institutional investors own 65.87% of the company’s stock.

Monster Beverage Corporation (NASDAQ:MNST) opened at 54.05 on Friday. Monster Beverage Corporation has a 12 month low of $40.64 and a 12 month high of $159.90. The company has a market cap of $30.71 billion, a P/E ratio of 40.89 and a beta of 0.96. The company’s 50-day moving average is $52.28 and its 200-day moving average is $48.22.

Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by $0.01. The business had revenue of $907.07 million during the quarter, compared to analysts’ expectations of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. On average, equities research analysts expect that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.

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Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Monster Beverage Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research note on Wednesday, August 9th. Credit Suisse Group set a $61.00 price objective on shares of Monster Beverage Corporation and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Jefferies Group LLC boosted their price target on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc reiterated a “hold” rating and set a $42.00 price target (down previously from $45.00) on shares of Monster Beverage Corporation in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.28.

About Monster Beverage Corporation

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.

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

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