Nachman Norwood & Parrott Inc purchased a new position in Monster Beverage Co. (NASDAQ:MNST) during the third quarter, HoldingsChannel reports. The firm purchased 490 shares of the company’s stock, valued at approximately $39,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC boosted its stake in shares of Monster Beverage by 12.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,308 shares of the company’s stock worth $91,000 after buying an additional 142 shares during the last quarter. CSat Investment Advisory L.P. boosted its stake in shares of Monster Beverage by 6.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock worth $171,000 after buying an additional 157 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Monster Beverage by 8.6% in the 2nd quarter. Global Retirement Partners LLC now owns 2,337 shares of the company’s stock worth $162,000 after buying an additional 186 shares during the last quarter. Clarius Group LLC boosted its stake in shares of Monster Beverage by 5.1% in the 2nd quarter. Clarius Group LLC now owns 4,525 shares of the company’s stock worth $314,000 after buying an additional 219 shares during the last quarter. Finally, Keybank National Association OH boosted its stake in shares of Monster Beverage by 3.1% in the 2nd quarter. Keybank National Association OH now owns 7,362 shares of the company’s stock worth $510,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 63.92% of the company’s stock.
Shares of Monster Beverage stock opened at $80.76 on Friday. The stock’s 50-day simple moving average is $81.12 and its 200-day simple moving average is $72.52. Monster Beverage Co. has a 52 week low of $50.06 and a 52 week high of $87.05. The company has a market capitalization of $42.59 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 3.06 and a beta of 1.04.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.10. Monster Beverage had a return on equity of 27.95% and a net margin of 26.57%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The business’s revenue was down .9% on a year-over-year basis. Analysts forecast that Monster Beverage Co. will post 2.26 earnings per share for the current year.
In other news, insider Emelie Tirre sold 47,601 shares of Monster Beverage stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $80.34, for a total value of $3,824,264.34. Following the sale, the insider now directly owns 11,349 shares of the company’s stock, valued at $911,778.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Guy Carling sold 41,250 shares of Monster Beverage stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $83.51, for a total value of $3,444,787.50. Following the completion of the sale, the insider now directly owns 28,385 shares in the company, valued at $2,370,431.35. The disclosure for this sale can be found here. Insiders sold 111,100 shares of company stock worth $9,126,791 over the last ninety days. Insiders own 10.60% of the company’s stock.
MNST has been the topic of a number of research reports. Goldman Sachs Group raised their price target on Monster Beverage from $87.00 to $93.00 in a research note on Thursday, August 13th. Stifel Nicolaus lifted their target price on Monster Beverage from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 27th. They noted that the move was a valuation call. BidaskClub downgraded Monster Beverage from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 8th. Morgan Stanley lifted their target price on Monster Beverage from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded Monster Beverage from a “buy” rating to a “hold” rating and set a $83.00 target price on the stock. in a research report on Tuesday, October 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $79.07.
Monster Beverage 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 carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, non-carbonated energy teas, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and 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 bottling and canning operations.
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