Monster Beverage Corporation (NASDAQ:MNST) announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by $0.01, Briefing.com reports. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The firm had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. During the same quarter in the previous year, the business posted $0.99 EPS. Monster Beverage Corporation’s revenue for the quarter was up 9.6% compared to the same quarter last year.
Shares of Monster Beverage Corporation (NASDAQ:MNST) traded up 0.63% during midday trading on Friday, hitting $54.05. 1,930,337 shares of the company’s stock were exchanged. Monster Beverage Corporation has a 52 week low of $40.64 and a 52 week high of $159.90. The firm has a market cap of $30.71 billion, a price-to-earnings ratio of 40.89 and a beta of 0.96. The company has a 50-day moving average of $52.28 and a 200-day moving average of $48.22.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank boosted its position in shares of Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after buying an additional 633 shares during the last quarter. Commonwealth Bank of Australia increased its position in Monster Beverage Corporation by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after buying an additional 232 shares during the period. Coconut Grove Bank increased its position in Monster Beverage Corporation by 128.0% in the first quarter. Coconut Grove Bank now owns 2,565 shares of the company’s stock worth $118,000 after buying an additional 1,440 shares during the period. Sun Life Financial INC increased its position in Monster Beverage Corporation by 29,250.0% in the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after buying an additional 2,925 shares during the period. Finally, Dynamic Advisors Solutions LLC purchased a new position in Monster Beverage Corporation during the second quarter worth about $202,000. Institutional investors own 65.87% of the company’s stock.
Several brokerages have commented on MNST. Credit Suisse Group set a $59.00 price target on shares of Monster Beverage Corporation and gave the company a “buy” rating in a research note on Saturday, May 6th. UBS AG set a $59.00 price objective on shares of Monster Beverage Corporation and gave the company a “buy” rating in a research note on Wednesday, June 21st. Jefferies Group LLC raised their price objective on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) raised their price objective on shares of Monster Beverage Corporation from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage Corporation in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.28.
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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.
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