Schwab Charles Investment Management Inc. increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,342,250 shares of the company’s stock after purchasing an additional 69,009 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.24% of Monster Beverage worth $74,160,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Monster Beverage by 3.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 822,047 shares of the company’s stock worth $45,418,000 after purchasing an additional 28,247 shares during the period. WINTON GROUP Ltd lifted its holdings in shares of Monster Beverage by 239.0% during the third quarter. WINTON GROUP Ltd now owns 614,794 shares of the company’s stock worth $33,967,000 after purchasing an additional 433,465 shares during the period. Zeke Capital Advisors LLC lifted its holdings in shares of Monster Beverage by 46.3% during the third quarter. Zeke Capital Advisors LLC now owns 7,045 shares of the company’s stock worth $389,000 after purchasing an additional 2,231 shares during the period. Amalgamated Bank lifted its holdings in shares of Monster Beverage by 2.6% during the third quarter. Amalgamated Bank now owns 49,828 shares of the company’s stock worth $2,753,000 after purchasing an additional 1,248 shares during the period. Finally, Iberiabank Corp lifted its holdings in shares of Monster Beverage by 58.3% during the third quarter. Iberiabank Corp now owns 18,385 shares of the company’s stock worth $1,016,000 after purchasing an additional 6,774 shares during the period. 65.84% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on MNST. Jefferies Group lifted their target price on Monster Beverage from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, November 28th. Credit Suisse Group reissued an “outperform” rating and issued a $69.00 price target (up from $62.00) on shares of Monster Beverage in a report on Monday, November 20th. Susquehanna Bancshares downgraded Monster Beverage from a “neutral” rating to a “negative” rating and set a $51.00 price target for the company. in a report on Monday, November 20th. Citigroup downgraded Monster Beverage to a “neutral” rating and decreased their price target for the company from $56.00 to $51.00 in a report on Monday, November 20th. They noted that the move was a valuation call. Finally, UBS downgraded Monster Beverage to a “neutral” rating in a report on Monday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.24.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $909.50 million during the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. Monster Beverage’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. research analysts anticipate that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.
About Monster Beverage
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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