Pinnacle Financial Partners Inc. lessened its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 31.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,216 shares of the company’s stock after selling 1,955 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Monster Beverage were worth $230,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pearl River Capital LLC increased its holdings in Monster Beverage by 3,006.5% during the first quarter. Pearl River Capital LLC now owns 4,318 shares of the company’s stock worth $236,000 after buying an additional 4,179 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Monster Beverage by 50.0% during the first quarter. State of New Jersey Common Pension Fund D now owns 540,000 shares of the company’s stock worth $29,473,000 after buying an additional 180,000 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Monster Beverage by 151.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 166,155 shares of the company’s stock worth $9,068,000 after buying an additional 100,034 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Monster Beverage by 5.3% in the first quarter. Rhumbline Advisers now owns 704,491 shares of the company’s stock worth $38,451,000 after purchasing an additional 35,296 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Monster Beverage by 43.0% in the first quarter. Parallel Advisors LLC now owns 2,431 shares of the company’s stock worth $133,000 after purchasing an additional 731 shares in the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BidaskClub downgraded shares of Monster Beverage from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Zacks Investment Research downgraded shares of Monster Beverage from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Jefferies Financial Group lifted their target price on shares of Monster Beverage from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Macquarie set a $63.00 target price on shares of Monster Beverage and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, UBS Group set a $53.00 target price on shares of Monster Beverage and gave the stock a “sell” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Monster Beverage presently has an average rating of “Hold” and a consensus target price of $63.03.
Shares of NASDAQ:MNST opened at $61.92 on Friday. The company has a market cap of $33.66 billion, a P/E ratio of 34.59, a PEG ratio of 2.21 and a beta of 1.53. Monster Beverage Corp has a 12 month low of $47.61 and a 12 month high of $66.38.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. The company had revenue of $946.00 million during the quarter, compared to analysts’ expectations of $919.49 million. Monster Beverage had a net margin of 26.61% and a return on equity of 28.35%. Monster Beverage’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts forecast that Monster Beverage Corp will post 2.01 EPS for the current year.
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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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