Arrow Financial Corp Purchases 10,375 Shares of Monster Beverage Corporation (MNST)

Arrow Financial Corp raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 43.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 34,475 shares of the company’s stock after buying an additional 10,375 shares during the period. Arrow Financial Corp’s holdings in Monster Beverage Corporation were worth $1,713,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. United Capital Financial Advisers LLC boosted its stake in shares of Monster Beverage Corporation by 0.4% in the first quarter. United Capital Financial Advisers LLC now owns 9,878 shares of the company’s stock worth $456,000 after buying an additional 38 shares during the period. Accuvest Global Advisors raised its stake in shares of Monster Beverage Corporation by 0.4% in the second quarter. Accuvest Global Advisors now owns 10,256 shares of the company’s stock worth $510,000 after buying an additional 38 shares in the last quarter. Wendell David Associates Inc. raised its stake in shares of Monster Beverage Corporation by 0.9% in the second quarter. Wendell David Associates Inc. now owns 7,264 shares of the company’s stock worth $361,000 after buying an additional 64 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Monster Beverage Corporation by 0.5% in the second quarter. IFP Advisors Inc now owns 12,691 shares of the company’s stock worth $630,000 after buying an additional 66 shares in the last quarter. Finally, Advisor Partners LLC raised its stake in shares of Monster Beverage Corporation by 1.1% in the second quarter. Advisor Partners LLC now owns 7,898 shares of the company’s stock worth $392,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 65.87% of the company’s stock.

Monster Beverage Corporation (MNST) opened at 54.05 on Friday. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $159.90. The company has a 50-day moving average of $52.28 and a 200-day moving average of $48.22. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 40.89 and a beta of 0.96.

Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. The business had revenue of $907.07 million during the quarter, compared to analysts’ expectations of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. Equities research analysts expect that Monster Beverage Corporation will post $1.48 EPS for the current year.

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Several research analysts have weighed in on MNST shares. Morgan Stanley reaffirmed an “overweight” rating and set a $58.00 target price on shares of Monster Beverage Corporation in a research note on Monday, May 15th. Zacks Investment Research lowered shares of Monster Beverage Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $42.00 target price (down previously from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. BMO Capital Markets reaffirmed a “buy” rating on shares of Monster Beverage Corporation in a research note on Thursday, April 27th. Finally, Cowen and Company reissued an “outperform” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Thursday, June 22nd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $56.28.

About Monster Beverage Corporation

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.

Institutional Ownership by Quarter for Monster Beverage Corporation (NASDAQ:MNST)

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