Fort L.P. grew its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 14.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,025 shares of the company’s stock after buying an additional 3,662 shares during the quarter. Fort L.P.’s holdings in Monster Beverage were worth $1,633,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Comerica Bank grew its position in Monster Beverage by 15.3% during the 1st quarter. Comerica Bank now owns 67,518 shares of the company’s stock worth $4,037,000 after purchasing an additional 8,971 shares during the period. American International Group Inc. boosted its stake in shares of Monster Beverage by 2.7% during the 4th quarter. American International Group Inc. now owns 179,110 shares of the company’s stock worth $11,382,000 after acquiring an additional 4,674 shares in the last quarter. IBM Retirement Fund boosted its stake in shares of Monster Beverage by 60.0% during the 1st quarter. IBM Retirement Fund now owns 9,023 shares of the company’s stock worth $508,000 after acquiring an additional 3,385 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Monster Beverage during the 4th quarter worth about $1,583,000. Finally, Fulton Bank N.A. boosted its stake in shares of Monster Beverage by 14.8% during the 1st quarter. Fulton Bank N.A. now owns 9,621 shares of the company’s stock worth $541,000 after acquiring an additional 1,242 shares in the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Monster Beverage stock traded down $2.39 during trading on Thursday, hitting $68.05. The company had a trading volume of 785,835 shares, compared to its average volume of 3,449,307. Monster Beverage Corp has a 1-year low of $50.06 and a 1-year high of $73.43. The company’s 50 day simple moving average is $66.05 and its 200-day simple moving average is $63.75. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 4.41 and a beta of 1.04.
Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 7th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 26.07% and a return on equity of 27.77%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $995.97 million. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Monster Beverage Corp will post 2.07 earnings per share for the current year.
In related news, Director Mark J. Hall sold 64,643 shares of Monster Beverage stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $72.82, for a total value of $4,707,303.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sydney Selati sold 5,000 shares of Monster Beverage stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $66.07, for a total transaction of $330,350.00. Following the completion of the sale, the director now owns 40,445 shares of the company’s stock, valued at approximately $2,672,201.15. The disclosure for this sale can be found here. Insiders sold a total of 196,108 shares of company stock valued at $13,486,804 in the last quarter. 10.20% of the stock is owned by insiders.
A number of research analysts recently weighed in on the stock. SunTrust Banks raised their price target on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Stifel Nicolaus raised their target price on shares of Monster Beverage from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Credit Suisse Group reissued a “buy” rating and issued a $78.00 target price on shares of Monster Beverage in a research note on Friday, May 8th. UBS Group raised their target price on shares of Monster Beverage from $51.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, May 8th. Finally, Bank of America raised their target price on shares of Monster Beverage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $68.94.
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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