ETF Managers Group LLC acquired a new stake in shares of Monster Beverage Corp (NASDAQ:MNST) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 19,987 shares of the company’s stock, valued at approximately $984,000.
Several other large investors also recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC increased its stake in Monster Beverage by 555.6% in the 4th quarter. Baystate Wealth Management LLC now owns 708 shares of the company’s stock worth $39,000 after acquiring an additional 600 shares during the last quarter. Rockland Trust Co. bought a new position in Monster Beverage in the 4th quarter worth about $49,000. Duncker Streett & Co. Inc. increased its stake in Monster Beverage by 41.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 1,368 shares of the company’s stock worth $68,000 after acquiring an additional 400 shares during the last quarter. Cerebellum GP LLC bought a new position in Monster Beverage in the 4th quarter worth about $70,000. Finally, Harvest Fund Management Co. Ltd increased its stake in Monster Beverage by 287.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock worth $111,000 after acquiring an additional 1,409 shares during the last quarter. Institutional investors own 64.16% of the company’s stock.
MNST has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $71.00 target price on shares of Monster Beverage in a research note on Thursday, November 8th. Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, November 14th. Citigroup set a $64.00 target price on Monster Beverage and gave the stock a “buy” rating in a research note on Friday, November 9th. SunTrust Banks upgraded Monster Beverage from a “hold” rating to a “buy” rating and upped their target price for the stock from $50.00 to $65.00 in a research note on Tuesday, January 8th. Finally, Goldman Sachs Group upgraded Monster Beverage from a “buy” rating to a “conviction-buy” rating in a research note on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $61.79.
In related news, EVP Thomas J. Kelly sold 14,661 shares of the stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $53.73, for a total transaction of $787,735.53. Following the completion of the sale, the executive vice president now directly owns 24,312 shares in the company, valued at approximately $1,306,283.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harold C. Taber, Jr. sold 9,000 shares of the stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $54.55, for a total value of $490,950.00. Following the sale, the director now owns 77,238 shares of the company’s stock, valued at $4,213,332.90. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.
Shares of Monster Beverage stock opened at $57.89 on Friday. The stock has a market cap of $31.76 billion, a PE ratio of 39.65, a PEG ratio of 1.80 and a beta of 1.53. Monster Beverage Corp has a 12 month low of $47.61 and a 12 month high of $66.43.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $988.73 million. Monster Beverage had a return on equity of 25.47% and a net margin of 25.86%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. On average, sell-side analysts anticipate that Monster Beverage Corp will post 1.77 earnings per share for the current fiscal year.
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About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its 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 drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes 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; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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