Nisa Investment Advisors LLC boosted its stake in Monster Beverage Corp (NASDAQ:MNST) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,575 shares of the company’s stock after acquiring an additional 700 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Monster Beverage were worth $7,782,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC purchased a new position in Monster Beverage in the 4th quarter worth approximately $33,000. Executive Wealth Management LLC purchased a new position in shares of Monster Beverage during the 4th quarter valued at approximately $35,000. Baystate Wealth Management LLC boosted its stake in shares of Monster Beverage by 555.6% during the 4th quarter. Baystate Wealth Management LLC now owns 708 shares of the company’s stock valued at $39,000 after buying an additional 600 shares during the last quarter. Old North State Trust LLC purchased a new position in shares of Monster Beverage during the 1st quarter valued at approximately $48,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Monster Beverage during the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.
In other Monster Beverage news, insider Emelie Tirre sold 24,762 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $62.97, for a total value of $1,559,263.14. Following the sale, the insider now directly owns 77,363 shares of the company’s stock, valued at $4,871,548.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas J. Kelly sold 25,719 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $59.68, for a total value of $1,534,909.92. Following the completion of the sale, the executive vice president now directly owns 35,370 shares in the company, valued at $2,110,881.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,253 shares of company stock worth $3,842,637. Corporate insiders own 9.70% of the company’s stock.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, February 27th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $924.23 million for the quarter, compared to analyst estimates of $907.75 million. Monster Beverage had a return on equity of 26.96% and a net margin of 26.08%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. Research analysts predict that Monster Beverage Corp will post 2.01 earnings per share for the current year.
Several equities analysts have recently commented on MNST shares. BidaskClub upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Wednesday, January 23rd. SunTrust Banks increased their target price on Monster Beverage to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Citigroup reiterated a “buy” rating and set a $72.00 target price on shares of Monster Beverage in a research note on Thursday, February 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $71.00 target price on shares of Monster Beverage in a research note on Friday, January 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $62.09.
About Monster Beverage
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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