Numeric Investors LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 33.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,700 shares of the company’s stock after purchasing an additional 3,400 shares during the quarter. Numeric Investors LLC’s holdings in Monster Beverage Corporation were worth $681,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Atlantic Trust Group LLC boosted its position in Monster Beverage Corporation by 4.3% during the second quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock worth $24,056,000 after purchasing an additional 19,966 shares in the last quarter. BlackRock Inc. boosted its position in Monster Beverage Corporation by 1.7% during the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after purchasing an additional 376,666 shares in the last quarter. Cim Investment Mangement Inc. boosted its position in Monster Beverage Corporation by 250.5% during the second quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock worth $1,142,000 after purchasing an additional 16,426 shares in the last quarter. Chilton Investment Co. LLC purchased a new position in Monster Beverage Corporation during the second quarter worth approximately $35,322,000. Finally, Calamos Advisors LLC boosted its position in Monster Beverage Corporation by 7.5% during the second quarter. Calamos Advisors LLC now owns 652,398 shares of the company’s stock worth $32,411,000 after purchasing an additional 45,469 shares in the last quarter. Institutional investors own 65.89% of the company’s stock.
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In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the director now directly owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.40% of the company’s stock.
Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). The business had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share.
A number of equities analysts have issued reports on the company. UBS AG set a $59.00 price target on Monster Beverage Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC increased their price target on Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and set a $57.00 price target on shares of Monster Beverage Corporation in a research report on Tuesday, June 20th. Cowen and Company reiterated an “outperform” rating and set a $58.00 price target on shares of Monster Beverage Corporation in a research report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, July 17th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Monster Beverage Corporation has an average rating of “Buy” and an average price target of $56.86.
Monster Beverage Corporation Company Profile
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.
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