Melvin Capital Management Lp Lowers stake in Monster Beverage Corporation (MNST)

Monster Beverage Corporation (MNST) : Melvin Capital Management Lp reduced its stake in Monster Beverage Corporation by 15.38% during the most recent quarter end. The investment management company now holds a total of 275,000 shares of Monster Beverage Corporation which is valued at $44,324,500 after selling 50,000 shares in Monster Beverage Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Monster Beverage Corporation makes up approximately 1.88% of Melvin Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Guggenheim Capital reduced its stake in MNST by selling 36,683 shares or 6.31% in the most recent quarter. The Hedge Fund company now holds 544,532 shares of MNST which is valued at $87,767,668. Monster Beverage Corporation makes up approx 0.27% of Guggenheim Capital’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in MNST in the latest quarter, The investment management firm added 1,925 additional shares and now holds a total of 219,376 shares of Monster Beverage Corporation which is valued at $34,610,952. Monster Beverage Corporation makes up approx 0.10% of Mizuho Trust Banking Ltd.’s portfolio.Columbus Circle Investors reduced its stake in MNST by selling 3,671 shares or 4.13% in the most recent quarter. The Hedge Fund company now holds 85,305 shares of MNST which is valued at $13,458,570. Monster Beverage Corporation makes up approx 0.13% of Columbus Circle Investors’s portfolio. First National Trust Co added MNST to its portfolio by purchasing 1,567 company shares during the most recent quarter which is valued at $246,818. Monster Beverage Corporation makes up approx 0.04% of First National Trust Co’s portfolio.Cornerstone Advisors boosted its stake in MNST in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 69 shares of Monster Beverage Corporation which is valued at $10,868. Monster Beverage Corporation makes up approx 0.01% of Cornerstone Advisors’s portfolio.

Monster Beverage Corporation opened for trading at $154.33 and hit $155.18 on the upside on Thursday, eventually ending the session at $154.33, with a gain of 0.29% or 0.44 points. The heightened volatility saw the trading volume jump to 6,80,438 shares. Company has a market cap of $29,378 M.

On the company’s financial health, Monster Beverage Corporation reported $0.99 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $1.04. The company had revenue of $824.50 million for the quarter, compared to analysts expectations of $804.29 million. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Many Wall Street Analysts have commented on Monster Beverage Corporation. Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 190 from a previous price target of $166 .Company shares were Reiterated by Stifel on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 185 from a previous price target of $165 .Monster Beverage Corporation was Downgraded by Wells Fargo to ” Market Perform” on Jul 18, 2016.

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