Guggenheim Capital LLC boosted its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 4.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,311,897 shares of the company’s stock after purchasing an additional 55,651 shares during the period. Guggenheim Capital LLC’s holdings in Monster Beverage were worth $75,052,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Optimum Investment Advisors bought a new position in Monster Beverage during the 1st quarter valued at approximately $120,000. Icon Wealth Partners LLC bought a new position in Monster Beverage during the 4th quarter valued at approximately $166,000. Captrust Financial Advisors bought a new position in Monster Beverage during the 4th quarter valued at approximately $177,000. Synovus Financial Corp bought a new position in Monster Beverage during the 1st quarter valued at approximately $175,000. Finally, Stone Ridge Asset Management LLC bought a new position in Monster Beverage during the 4th quarter valued at approximately $215,000. 65.32% of the stock is owned by institutional investors.
A number of research firms recently weighed in on MNST. Citigroup set a $70.00 price objective on Monster Beverage and gave the company a “buy” rating in a research report on Monday, April 9th. Evercore ISI set a $65.00 price objective on Monster Beverage and gave the company a “buy” rating in a research report on Tuesday, June 5th. ValuEngine raised Monster Beverage from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research downgraded Monster Beverage from a “hold” rating to a “sell” rating in a research note on Wednesday, March 21st. Finally, Morgan Stanley increased their target price on Monster Beverage from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $62.94.
Monster Beverage (NASDAQ:MNST) last released its earnings results on Tuesday, May 8th. The company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $850.92 million for the quarter, compared to the consensus estimate of $845.88 million. Monster Beverage had a return on equity of 22.88% and a net margin of 24.69%. Monster Beverage’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. equities analysts anticipate that Monster Beverage Corp will post 1.71 EPS for the current fiscal year.
Monster Beverage declared that its board has authorized a stock buyback plan on Thursday, March 1st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Monster Beverage Company 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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