Korea Investment CORP Has $33.15 Million Holdings in Monster Beverage Corporation (MNST)

Korea Investment CORP boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,910 shares of the company’s stock after acquiring an additional 27,700 shares during the quarter. Korea Investment CORP owned 0.11% of Monster Beverage Corporation worth $33,145,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Aperio Group LLC raised its position in shares of Monster Beverage Corporation by 40.9% in the third quarter. Aperio Group LLC now owns 174,438 shares of the company’s stock valued at $9,638,000 after purchasing an additional 50,625 shares during the period. Braun Stacey Associates Inc. raised its position in shares of Monster Beverage Corporation by 126.2% in the third quarter. Braun Stacey Associates Inc. now owns 28,460 shares of the company’s stock valued at $1,572,000 after purchasing an additional 15,880 shares during the period. Rathbone Brothers plc raised its position in shares of Monster Beverage Corporation by 21.2% in the third quarter. Rathbone Brothers plc now owns 476,150 shares of the company’s stock valued at $26,307,000 after purchasing an additional 83,150 shares during the period. First Trust Advisors LP raised its position in shares of Monster Beverage Corporation by 90.2% in the third quarter. First Trust Advisors LP now owns 273,593 shares of the company’s stock valued at $15,116,000 after purchasing an additional 129,780 shares during the period. Finally, Boston Advisors LLC raised its position in shares of Monster Beverage Corporation by 1.1% in the third quarter. Boston Advisors LLC now owns 481,258 shares of the company’s stock valued at $26,590,000 after purchasing an additional 5,366 shares during the period. 65.87% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on MNST shares. 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 report on Wednesday, August 9th. BidaskClub raised shares of Monster Beverage Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Monday, July 17th. Finally, Macquarie started coverage on shares of Monster Beverage Corporation in a research report on Thursday, September 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $57.06.

Monster Beverage Corporation (MNST) opened at 56.75 on Friday. The company has a 50 day moving average of $55.94 and a 200 day moving average of $51.97. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $57.25. The firm has a market capitalization of $32.24 billion, a P/E ratio of 42.93 and a beta of 1.02.

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

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In related news, Director Sydney Selati sold 10,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the sale, the director now directly owns 52,000 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.40% of the company’s stock.

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

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