Commerzbank Aktiengesellschaft FI lifted its position in Monster Beverage Co. (NASDAQ:MNST) by 39.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,932 shares of the company’s stock after purchasing an additional 16,953 shares during the quarter. Monster Beverage comprises about 1.3% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 9th biggest position. Commerzbank Aktiengesellschaft FI’s holdings in Monster Beverage were worth $4,807,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Jacobi Capital Management LLC increased its stake in Monster Beverage by 1,073.0% during the second quarter. Jacobi Capital Management LLC now owns 4,387 shares of the company’s stock worth $26,000 after acquiring an additional 4,013 shares during the last quarter. Virtus ETF Advisers LLC bought a new stake in Monster Beverage during the second quarter worth approximately $26,000. Newfound Research LLC bought a new stake in Monster Beverage during the third quarter worth approximately $36,000. First Horizon Advisors Inc. increased its stake in Monster Beverage by 120.2% during the second quarter. First Horizon Advisors Inc. now owns 557 shares of the company’s stock worth $39,000 after acquiring an additional 304 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc bought a new stake in Monster Beverage during the third quarter worth approximately $39,000. 63.92% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Monster Beverage from a “buy” rating to a “hold” rating and set a $83.00 price objective on the stock. in a research note on Tuesday, October 6th. BidaskClub lowered Monster Beverage from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Monster Beverage from $83.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Stifel Nicolaus boosted their target price on Monster Beverage from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 27th. They noted that the move was a valuation call. Finally, Guggenheim boosted their target price on Monster Beverage from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $80.79.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.10. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1 billion. Monster Beverage had a net margin of 26.57% and a return on equity of 27.95%. Monster Beverage’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, analysts expect that Monster Beverage Co. will post 2.26 EPS for the current fiscal year.
In other news, EVP Thomas J. Kelly sold 10,249 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $83.53, for a total transaction of $856,098.97. Following the transaction, the executive vice president now directly owns 2,868 shares of the company’s stock, valued at $239,564.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark Vidergauz sold 12,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $83.47, for a total value of $1,001,640.00. Following the transaction, the director now directly owns 41,325 shares in the company, valued at $3,449,397.75. The disclosure for this sale can be found here. Insiders sold 111,100 shares of company stock valued at $9,126,791 in the last three months. 10.60% of the stock is currently owned by insiders.
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 carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, non-carbonated energy teas, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and 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 bottling and canning operations.
Further Reading: Understanding the two types of arbitrage
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.