Pitcairn Co. Sells 155 Shares of Monster Beverage Co. (NASDAQ:MNST)

Pitcairn Co. trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,626 shares of the company’s stock after selling 155 shares during the quarter. Pitcairn Co.’s holdings in Monster Beverage were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MNST. FinTrust Capital Advisors LLC acquired a new position in Monster Beverage in the second quarter valued at approximately $29,000. JJJ Advisors Inc. increased its position in shares of Monster Beverage by 84.2% during the third quarter. JJJ Advisors Inc. now owns 477 shares of the company’s stock worth $42,000 after acquiring an additional 218 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Monster Beverage during the third quarter worth $53,000. Rosenberg Matthew Hamilton bought a new stake in shares of Monster Beverage during the third quarter worth $61,000. Finally, PFG Private Wealth Management LLC bought a new position in Monster Beverage in the third quarter valued at $74,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

MNST stock opened at $89.91 on Friday. The company’s 50 day moving average is $91.20 and its 200 day moving average is $91.94. The stock has a market cap of $47.57 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 2.32 and a beta of 1.12. Monster Beverage Co. has a 1-year low of $80.92 and a 1-year high of $99.89.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 4th. The company reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.04). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. Monster Beverage had a return on equity of 23.94% and a net margin of 28.76%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. Equities analysts anticipate that Monster Beverage Co. will post 2.57 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Jefferies Financial Group cut shares of Monster Beverage from a “buy” rating to a “hold” rating and cut their price target for the company from $113.00 to $92.00 in a research note on Wednesday, October 13th. Redburn Partners began coverage on shares of Monster Beverage in a research note on Monday, November 1st. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, November 2nd. Wells Fargo & Company dropped their price objective on shares of Monster Beverage from $105.00 to $101.00 and set an “overweight” rating for the company in a research note on Thursday, October 14th. Finally, Morgan Stanley dropped their price objective on shares of Monster Beverage from $115.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, November 5th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Monster Beverage currently has an average rating of “Buy” and a consensus price target of $106.21.

Monster Beverage Company Profile

Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

See Also: Preferred Stock

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

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