Summit Financial LLC Has $333,000 Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Summit Financial LLC lifted its holdings in Monster Beverage Co. (NASDAQ:MNST) by 39.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,779 shares of the company’s stock after buying an additional 1,628 shares during the quarter. Summit Financial LLC’s holdings in Monster Beverage were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Peoples Bank KS bought a new position in Monster Beverage in the third quarter valued at about $26,000. Headinvest LLC bought a new position in shares of Monster Beverage in the 3rd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Monster Beverage during the 3rd quarter worth approximately $31,000. Catalyst Capital Advisors LLC grew its position in shares of Monster Beverage by 34.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock worth $41,000 after buying an additional 199 shares during the period. Finally, DT Investment Partners LLC bought a new stake in shares of Monster Beverage during the third quarter worth approximately $53,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MNST. JPMorgan Chase & Co. cut shares of Monster Beverage from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $66.00 to $59.00 in a research note on Thursday, April 25th. Citigroup upped their price objective on Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Redburn Atlantic began coverage on Monster Beverage in a report on Wednesday, March 6th. They set a “buy” rating on the stock. Morgan Stanley decreased their target price on Monster Beverage from $68.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group increased their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $55.00 on Friday. The company has a market cap of $57.30 billion, a PE ratio of 34.59, a PEG ratio of 2.19 and a beta of 0.74. The stock has a 50-day simple moving average of $56.84 and a 200 day simple moving average of $55.73. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a return on equity of 21.13% and a net margin of 22.83%. Monster Beverage’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. On average, research analysts predict that Monster Beverage Co. will post 1.8 earnings per share for the current fiscal year.

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 value of $38,584,450.00. Following the completion of the transaction, the director now owns 777,840 shares in the company, valued at approximately $45,542,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.40% of the company’s stock.

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.