Dock Street Asset Management Inc. Acquires 13,629 Shares of Monster Beverage Co. (NASDAQ:MNST)

Dock Street Asset Management Inc. grew its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 295,461 shares of the company’s stock after buying an additional 13,629 shares during the period. Monster Beverage accounts for 2.7% of Dock Street Asset Management Inc.’s portfolio, making the stock its 15th largest position. Dock Street Asset Management Inc.’s holdings in Monster Beverage were worth $17,022,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Freedom Wealth Alliance LLC bought a new position in shares of Monster Beverage during the fourth quarter valued at approximately $25,000. Resurgent Financial Advisors LLC bought a new position in Monster Beverage in the fourth quarter worth approximately $26,000. Ancora Advisors LLC bought a new position in Monster Beverage in the first quarter worth approximately $27,000. Peoples Bank KS bought a new position in Monster Beverage in the third quarter worth approximately $26,000. Finally, Quarry LP grew its stake in Monster Beverage by 276.1% in the first quarter. Quarry LP now owns 504 shares of the company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.40% of the company’s stock.

Monster Beverage Trading Down 1.0 %

Shares of NASDAQ MNST traded down $0.56 during trading on Thursday, reaching $53.69. 1,331,282 shares of the company traded hands, compared to its average volume of 5,252,867. The firm’s fifty day simple moving average is $57.30 and its 200 day simple moving average is $55.50. The stock has a market cap of $55.87 billion, a P/E ratio of 35.00, a PEG ratio of 2.13 and a beta of 0.72. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. As a group, research analysts expect that Monster Beverage Co. will post 1.81 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MNST. Royal Bank of Canada increased their price objective on Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. The Goldman Sachs Group increased their price objective on Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. UBS Group increased their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. BMO Capital Markets increased their price objective on Monster Beverage from $57.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 17th. Finally, Jefferies Financial Group increased their price objective on Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $63.11.

Monster Beverage Company Profile

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.