grace capital Decreases Stake in Monster Beverage Corp (NASDAQ:MNST)

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grace capital reduced its stake in Monster Beverage Corp (NASDAQ:MNST) by 18.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,800 shares of the company’s stock after selling 2,000 shares during the period. grace capital’s holdings in Monster Beverage were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNST. Nuveen Asset Management LLC grew its stake in shares of Monster Beverage by 7,920.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock worth $580,817,000 after buying an additional 8,985,980 shares in the last quarter. Viking Global Investors LP purchased a new position in shares of Monster Beverage in the 2nd quarter worth $565,020,000. Renaissance Technologies LLC grew its stake in shares of Monster Beverage by 19.6% in the 2nd quarter. Renaissance Technologies LLC now owns 8,624,004 shares of the company’s stock worth $550,470,000 after buying an additional 1,413,700 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Monster Beverage by 39.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,795,737 shares of the company’s stock worth $306,112,000 after purchasing an additional 1,345,673 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Monster Beverage by 124.8% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,322,828 shares of the company’s stock worth $84,436,000 after purchasing an additional 734,404 shares during the period. Institutional investors own 65.94% of the company’s stock.

Shares of NASDAQ:MNST traded up $1.40 during trading hours on Wednesday, hitting $60.39. The company’s stock had a trading volume of 2,478,947 shares, compared to its average volume of 3,369,736. The company has a market capitalization of $32.16 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 2.06 and a beta of 1.16. The firm’s fifty day moving average price is $57.59 and its 200 day moving average price is $60.19. Monster Beverage Corp has a 52 week low of $47.74 and a 52 week high of $66.38.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, November 7th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.23%. Monster Beverage’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Equities research analysts forecast that Monster Beverage Corp will post 2.04 EPS for the current year.

A number of equities analysts recently commented on MNST shares. Credit Suisse Group reaffirmed an “outperform” rating and set a $77.00 price target on shares of Monster Beverage in a research note on Wednesday, August 28th. Jefferies Financial Group lifted their price target on shares of Monster Beverage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. They noted that the move was a valuation call. Cowen cut shares of Monster Beverage from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $69.00 to $65.00 in a research note on Thursday, October 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $62.00 price target (down from $67.00) on shares of Monster Beverage in a research note on Thursday, August 8th. Finally, UBS Group reissued a “sell” rating and issued a $52.00 price objective (down from $53.00) on shares of Monster Beverage in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Monster Beverage has a consensus rating of “Hold” and an average price target of $64.80.

In other news, EVP Thomas J. Kelly sold 33,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $60.07, for a total value of $1,982,310.00. Following the completion of the sale, the executive vice president now directly owns 58,249 shares in the company, valued at $3,499,017.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Emelie Tirre sold 10,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $58.58, for a total transaction of $615,090.00. Following the sale, the insider now owns 63,101 shares of the company’s stock, valued at $3,696,456.58. The disclosure for this sale can be found here. Corporate insiders own 10.20% of the company’s stock.

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 ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.

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

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