Amalgamated Bank raised its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,517 shares of the company’s stock after acquiring an additional 2,992 shares during the period. Amalgamated Bank’s holdings in Monster Beverage were worth $3,640,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of Monster Beverage by 10.1% in the first quarter. JPMorgan Chase & Co. now owns 6,792,151 shares of the company’s stock valued at $388,579,000 after purchasing an additional 623,336 shares in the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of Monster Beverage by 311.2% in the first quarter. Virginia Retirement Systems ET AL now owns 662,000 shares of the company’s stock valued at $37,873,000 after purchasing an additional 501,000 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Monster Beverage by 2.1% in the first quarter. BlackRock Inc. now owns 23,226,842 shares of the company’s stock valued at $1,328,806,000 after purchasing an additional 487,443 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Monster Beverage by 11.5% in the first quarter. Wells Fargo & Company MN now owns 3,841,741 shares of the company’s stock valued at $219,785,000 after purchasing an additional 394,860 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Monster Beverage by 214.6% in the first quarter. Toronto Dominion Bank now owns 555,395 shares of the company’s stock valued at $31,767,000 after purchasing an additional 378,880 shares in the last quarter. Institutional investors and hedge funds own 65.48% of the company’s stock.
Get Monster Beverage alerts:Shares of Monster Beverage stock opened at $61.58 on Friday. Monster Beverage Corp has a 52-week low of $47.61 and a 52-week high of $70.21. The company has a market capitalization of $34.40 billion, a P/E ratio of 42.18, a PEG ratio of 2.24 and a beta of 1.28.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Monster Beverage had a net margin of 24.69% and a return on equity of 22.88%. The company had revenue of $850.92 million during the quarter, compared to the consensus estimate of $845.88 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. equities research analysts forecast that Monster Beverage Corp will post 1.71 EPS for the current fiscal year.
Monster Beverage declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Friday. BidaskClub upgraded shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 17th. BMO Capital Markets lifted their price objective on shares of Monster Beverage from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday. ValuEngine upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Finally, Stifel Nicolaus lifted their price objective on shares of Monster Beverage from $63.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $63.38.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its 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 drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes 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; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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