Monster Beverage Corporation (MNST) Shares Bought by Ladenburg Thalmann Financial Services Inc.
Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,769 shares of the company’s stock after purchasing an additional 1,290 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Monster Beverage were worth $705,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Monster Beverage by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,951 shares of the company’s stock worth $1,488,000 after purchasing an additional 109 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Monster Beverage by 1.7% during the second quarter. Raymond James Trust N.A. now owns 8,890 shares of the company’s stock worth $442,000 after purchasing an additional 146 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Monster Beverage by 2.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock worth $313,000 after purchasing an additional 176 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Monster Beverage by 0.9% during the second quarter. Nordea Investment Management AB now owns 20,364 shares of the company’s stock worth $1,012,000 after purchasing an additional 178 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its position in shares of Monster Beverage by 11.0% during the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.
Monster Beverage Corporation (NASDAQ MNST) opened at $63.77 on Friday. The company has a market capitalization of $35,990.00, a price-to-earnings ratio of 46.55, a PEG ratio of 2.27 and a beta of 0.94. Monster Beverage Corporation has a 52 week low of $41.02 and a 52 week high of $64.79.
Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The company had revenue of $909.50 million for the quarter, compared to analyst estimates of $903.82 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. analysts forecast that Monster Beverage Corporation will post 1.48 earnings per share for the current fiscal year.
Several analysts have recently weighed in on MNST shares. Credit Suisse Group downgraded Monster Beverage to a “hold” rating in a research report on Friday, September 8th. Macquarie assumed coverage on Monster Beverage in a research note on Thursday, September 14th. They set an “outperform” rating and a $65.00 price target on the stock. BMO Capital Markets restated a “buy” rating and set a $58.00 price target on shares of Monster Beverage in a research note on Wednesday, September 6th. Jefferies Group raised their price target on Monster Beverage from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, Citigroup set a $60.00 price target on Monster Beverage and gave the company a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $60.11.
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Monster Beverage 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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