Andra AP fonden Buys New Position in Monster Beverage Corporation $MNST

Andra AP fonden purchased a new stake in Monster Beverage Corporation (NASDAQ:MNST) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 125,700 shares of the company’s stock, valued at approximately $7,874,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC lifted its position in shares of Monster Beverage by 1.0% in the 2nd quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock worth $1,064,000 after purchasing an additional 174 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Monster Beverage by 4.0% in the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock worth $286,000 after buying an additional 189 shares during the period. Accretive Wealth Partners LLC boosted its position in Monster Beverage by 1.0% during the 2nd quarter. Accretive Wealth Partners LLC now owns 20,170 shares of the company’s stock valued at $1,263,000 after acquiring an additional 190 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Monster Beverage by 2.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 6,704 shares of the company’s stock worth $420,000 after acquiring an additional 191 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after acquiring an additional 196 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the transaction, the director directly owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by insiders.

Monster Beverage Price Performance

MNST opened at $69.73 on Friday. The firm has a market cap of $68.09 billion, a PE ratio of 43.31, a P/E/G ratio of 2.31 and a beta of 0.53. The stock has a 50-day moving average price of $66.59 and a 200-day moving average price of $63.44. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $72.62.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. Monster Beverage’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. As a group, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $81.00 price target (up from $74.00) on shares of Monster Beverage in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 target price on shares of Monster Beverage in a research report on Tuesday. Bank of America increased their price target on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup reissued a “buy” rating and set a $79.00 price objective (up previously from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.41.

Monster Beverage Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.