Advisor Group Holdings Inc. purchased a new stake in shares of Monster Beverage Corp (NASDAQ:MNST) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 67,742 shares of the company’s stock, valued at approximately $2,185,000.
Several other institutional investors have also recently added to or reduced their stakes in MNST. Victory Capital Management Inc. grew its stake in shares of Monster Beverage by 4.3% during the 4th quarter. Victory Capital Management Inc. now owns 322,681 shares of the company’s stock valued at $20,506,000 after purchasing an additional 13,215 shares during the period. Piedmont Investment Advisors Inc. lifted its position in shares of Monster Beverage by 3.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 35,771 shares of the company’s stock valued at $2,273,000 after buying an additional 1,105 shares in the last quarter. Vident Investment Advisory LLC lifted its position in shares of Monster Beverage by 5.4% during the 4th quarter. Vident Investment Advisory LLC now owns 7,518 shares of the company’s stock valued at $478,000 after buying an additional 385 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Monster Beverage by 3.5% during the 4th quarter. Prudential Financial Inc. now owns 553,026 shares of the company’s stock valued at $35,145,000 after buying an additional 18,564 shares in the last quarter. Finally, TD Asset Management Inc. lifted its position in shares of Monster Beverage by 80.8% during the 4th quarter. TD Asset Management Inc. now owns 355,043 shares of the company’s stock valued at $22,563,000 after buying an additional 158,687 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.
A number of research firms recently commented on MNST. UBS Group boosted their price target on Monster Beverage from $51.00 to $52.00 and gave the stock a “sell” rating in a report on Friday, May 8th. Citigroup cut Monster Beverage from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $73.00 in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Monster Beverage from $68.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $77.00 price objective on shares of Monster Beverage in a report on Monday, June 15th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $78.00 price objective on shares of Monster Beverage in a report on Friday, May 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $68.94.
In other news, Director Mark J. Hall sold 64,643 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $72.82, for a total value of $4,707,303.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas J. Kelly sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $68.29, for a total value of $1,024,350.00. Following the sale, the executive vice president now directly owns 13,117 shares in the company, valued at $895,759.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,108 shares of company stock valued at $13,486,804. 10.60% of the stock is currently owned by company insiders.
Shares of NASDAQ MNST opened at $69.11 on Wednesday. The stock has a market capitalization of $36.39 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 4.23 and a beta of 1.04. Monster Beverage Corp has a 1-year low of $50.06 and a 1-year high of $73.43. The business has a fifty day moving average price of $69.18 and a 200 day moving average price of $64.68.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.77% and a net margin of 26.07%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $995.97 million. During the same period in the prior year, the business posted $0.50 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Analysts predict that Monster Beverage Corp will post 2.07 EPS for the current year.
Monster Beverage Company Profile
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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