Pendal Group Ltd Increases Position in Monster Beverage Corp (NASDAQ:MNST)

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Pendal Group Ltd increased its stake in Monster Beverage Corp (NASDAQ:MNST) by 4.1% in the 2nd quarter, Holdings Channel reports. The fund owned 136,720 shares of the company’s stock after buying an additional 5,399 shares during the quarter. Pendal Group Ltd’s holdings in Monster Beverage were worth $8,727,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MNST. Geode Capital Management LLC increased its holdings in shares of Monster Beverage by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock worth $262,159,000 after buying an additional 289,340 shares during the last quarter. USS Investment Management Ltd increased its holdings in shares of Monster Beverage by 14.3% in the 1st quarter. USS Investment Management Ltd now owns 2,190,226 shares of the company’s stock worth $119,521,000 after buying an additional 274,111 shares during the last quarter. Calamos Advisors LLC increased its holdings in shares of Monster Beverage by 1.0% in the 1st quarter. Calamos Advisors LLC now owns 86,028 shares of the company’s stock worth $4,695,000 after buying an additional 861 shares during the last quarter. Sciencast Management LP increased its holdings in shares of Monster Beverage by 184.7% in the 1st quarter. Sciencast Management LP now owns 25,626 shares of the company’s stock worth $1,391,000 after buying an additional 16,626 shares during the last quarter. Finally, Autus Asset Management LLC increased its holdings in shares of Monster Beverage by 6.0% in the 1st quarter. Autus Asset Management LLC now owns 63,017 shares of the company’s stock worth $3,439,000 after buying an additional 3,570 shares during the last quarter. Institutional investors own 66.21% of the company’s stock.

Monster Beverage stock traded up $1.69 during trading hours on Tuesday, hitting $58.17. The company had a trading volume of 180,803 shares, compared to its average volume of 3,405,674. The company has a market cap of $31.30 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 2.01 and a beta of 1.30. Monster Beverage Corp has a 1 year low of $47.74 and a 1 year high of $66.38. The business’s 50-day simple moving average is $63.69.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03). Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.48 earnings per share. Monster Beverage’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts expect that Monster Beverage Corp will post 2.07 earnings per share for the current fiscal year.

In other news, insider Guy Carling sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.82, for a total value of $1,579,680.00. Following the completion of the sale, the insider now owns 33,535 shares of the company’s stock, valued at approximately $2,207,273.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Macquarie set a $63.00 price target on shares of Monster Beverage and gave the stock a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target on shares of Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Credit Suisse Group set a $77.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, ValuEngine cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $65.21.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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

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