Captrust Financial Advisors reduced its position in shares of Monster Beverage Corp (NASDAQ:MNST) by 17.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,430 shares of the company’s stock after selling 708 shares during the period. Captrust Financial Advisors’ holdings in Monster Beverage were worth $169,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Monster Beverage by 4.2% in the fourth quarter. BlackRock Inc. now owns 25,120,708 shares of the company’s stock worth $1,236,441,000 after acquiring an additional 1,009,563 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Monster Beverage by 1.5% in the third quarter. Loomis Sayles & Co. L P now owns 24,002,010 shares of the company’s stock worth $1,398,837,000 after acquiring an additional 347,332 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Monster Beverage by 47.2% in the third quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock worth $720,297,000 after acquiring an additional 3,961,104 shares during the last quarter. Northern Trust Corp increased its stake in shares of Monster Beverage by 1.0% in the fourth quarter. Northern Trust Corp now owns 4,759,064 shares of the company’s stock worth $234,241,000 after acquiring an additional 48,167 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Monster Beverage by 4,494.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock worth $94,000 after acquiring an additional 4,519,673 shares during the last quarter. 64.18% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on MNST. ValuEngine raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. BMO Capital Markets upped their price objective on shares of Monster Beverage from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. UBS Group set a $52.00 price objective on shares of Monster Beverage and gave the stock a “sell” rating in a report on Thursday, February 28th. Credit Suisse Group initiated coverage on shares of Monster Beverage in a report on Wednesday, March 6th. They issued an “outperform” rating and a $78.00 price objective for the company. Finally, BidaskClub upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Monster Beverage currently has an average rating of “Buy” and an average price target of $63.88.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, February 27th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. Monster Beverage had a net margin of 26.08% and a return on equity of 26.96%. The firm had revenue of $924.23 million during the quarter, compared to analysts’ expectations of $907.75 million. During the same period in the prior year, the company posted $0.35 earnings per share. Monster Beverage’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts anticipate that Monster Beverage Corp will post 2.04 EPS for the current fiscal year.
In other Monster Beverage news, insider Emelie Tirre sold 24,762 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $62.97, for a total transaction of $1,559,263.14. Following the completion of the sale, the insider now directly owns 77,363 shares in the company, valued at $4,871,548.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harold C. Taber, Jr. sold 11,772 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.58, for a total transaction of $748,463.76. Following the sale, the director now owns 72,240 shares of the company’s stock, valued at $4,593,019.20. The disclosure for this sale can be found here. 9.70% of the stock is owned by corporate insiders.
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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