Cynosure Group LLC grew its stake in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,224 shares of the company’s stock after acquiring an additional 341 shares during the quarter. Cynosure Group LLC’s holdings in Monster Beverage were worth $364,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new stake in shares of Monster Beverage during the first quarter worth $4,800,000. Townsquare Capital LLC boosted its holdings in shares of Monster Beverage by 21.7% during the first quarter. Townsquare Capital LLC now owns 123,248 shares of the company’s stock worth $7,213,000 after purchasing an additional 21,938 shares during the last quarter. Founders Financial Alliance LLC boosted its holdings in Monster Beverage by 33.3% in the first quarter. Founders Financial Alliance LLC now owns 9,064 shares of the company’s stock valued at $530,000 after acquiring an additional 2,266 shares during the last quarter. NS Partners Ltd boosted its holdings in Monster Beverage by 0.8% in the first quarter. NS Partners Ltd now owns 353,298 shares of the company’s stock valued at $20,675,000 after acquiring an additional 2,672 shares during the last quarter. Finally, Bristlecone Advisors LLC boosted its holdings in Monster Beverage by 32.9% in the first quarter. Bristlecone Advisors LLC now owns 9,115 shares of the company’s stock valued at $533,000 after acquiring an additional 2,256 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Royal Bank Of Canada set a $68.00 target price on Monster Beverage and gave the company an “outperform” rating in a report on Friday. Roth Capital lifted their target price on Monster Beverage from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, May 14th. Stifel Nicolaus assumed coverage on Monster Beverage in a report on Thursday, June 12th. They issued a “buy” rating and a $72.00 target price on the stock. Bank of America lifted their target price on Monster Beverage from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday. Finally, Roth Mkm lifted their target price on Monster Beverage from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $64.90.
Insider Buying and Selling at Monster Beverage
In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider owned 89,501 shares of the company’s stock, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the transaction, the chief financial officer directly owned 69,273 shares in the company, valued at $4,391,908.20. This represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by corporate insiders.
Monster Beverage Stock Performance
MNST opened at $64.69 on Friday. The company has a market capitalization of $63.09 billion, a price-to-earnings ratio of 40.18, a price-to-earnings-growth ratio of 2.36 and a beta of 0.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. Monster Beverage Corporation has a 1-year low of $45.19 and a 1-year high of $66.75. The business has a 50 day moving average price of $61.55 and a two-hundred day moving average price of $58.05.
Monster Beverage (NASDAQ:MNST – Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a return on equity of 28.71% and a net margin of 20.54%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. Research analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.
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