Pendal Group Ltd Has $8.73 Million Holdings in Monster Beverage Corp (NASDAQ:MNST)
Pendal Group Ltd lifted its position in shares of Monster Beverage Corp (NASDAQ:MNST) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,720 shares of the company’s stock after purchasing an additional 5,399 shares during the quarter. Pendal Group Ltd’s holdings in Monster Beverage were worth $8,727,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Westside Investment Management Inc. acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $26,000. Coastal Capital Group Inc. acquired a new stake in Monster Beverage in the 2nd quarter valued at $34,000. West Oak Capital LLC acquired a new stake in Monster Beverage in the 2nd quarter valued at $38,000. SevenBridge Financial Group LLC acquired a new stake in Monster Beverage in the 2nd quarter valued at $50,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Monster Beverage in the 1st quarter valued at $55,000. 66.21% of the stock is currently owned by institutional investors.
Several analysts recently commented on MNST shares. Macquarie set a $63.00 price target on Monster Beverage and gave the company a “hold” rating in a research note on Friday, May 3rd. ValuEngine downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Jefferies Financial Group boosted their target price on Monster Beverage from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. BMO Capital Markets dropped their target price on Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Zacks Investment Research upgraded Monster Beverage from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $65.21.
Monster Beverage stock traded up $1.69 during mid-day trading on Tuesday, reaching $58.17. 180,803 shares of the company were exchanged, compared to its average volume of 3,405,674. The firm’s fifty day simple moving average is $63.69. The company has a market cap of $31.30 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.01 and a beta of 1.30. Monster Beverage Corp has a 12 month low of $47.74 and a 12 month high of $66.38.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 7th. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.03). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. Sell-side analysts anticipate that Monster Beverage Corp will post 2.07 earnings per share for the current fiscal year.
Monster Beverage Profile
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.
Featured Story: What is systematic risk?
Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.