Mackay Shields LLC lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST – Get Rating) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,283 shares of the company’s stock after selling 1,249 shares during the quarter. Mackay Shields LLC’s holdings in Monster Beverage were worth $5,406,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Formidable Asset Management LLC bought a new stake in Monster Beverage during the third quarter worth $846,000. CIBC Asset Management Inc boosted its position in Monster Beverage by 5.4% in the third quarter. CIBC Asset Management Inc now owns 119,460 shares of the company’s stock worth $10,612,000 after purchasing an additional 6,109 shares during the last quarter. State of Michigan Retirement System boosted its position in Monster Beverage by 10.5% in the fourth quarter. State of Michigan Retirement System now owns 110,948 shares of the company’s stock worth $10,655,000 after purchasing an additional 10,556 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Monster Beverage by 3.1% in the third quarter. Epoch Investment Partners Inc. now owns 537,097 shares of the company’s stock worth $47,710,000 after purchasing an additional 16,386 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its position in Monster Beverage by 2.0% in the third quarter. Douglass Winthrop Advisors LLC now owns 812,693 shares of the company’s stock worth $72,192,000 after purchasing an additional 16,235 shares during the last quarter. Institutional investors and hedge funds own 63.41% of the company’s stock.
Several research analysts have weighed in on MNST shares. Guggenheim cut their price objective on Monster Beverage from $109.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. StockNews.com started coverage on Monster Beverage in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup cut their price objective on Monster Beverage from $110.00 to $98.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Stifel Nicolaus dropped their price target on Monster Beverage from $107.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, March 10th. Finally, Wells Fargo & Company dropped their price target on Monster Beverage from $108.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 16th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $100.50.
Monster Beverage (NASDAQ:MNST – Get Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Monster Beverage had a return on equity of 22.79% and a net margin of 24.86%. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, research analysts predict that Monster Beverage Co. will post 2.81 earnings per share for the current year.
Monster Beverage Profile (Get Rating)
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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.
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