Nisa Investment Advisors LLC boosted its stake in Monster Beverage Corp (NASDAQ:MNST) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,875 shares of the company’s stock after buying an additional 4,670 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Monster Beverage were worth $6,983,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Rockland Trust Co. purchased a new stake in shares of Monster Beverage during the 4th quarter worth $49,000. Cerebellum GP LLC purchased a new stake in Monster Beverage in the fourth quarter valued at $70,000. Harvest Fund Management Co. Ltd lifted its position in Monster Beverage by 287.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock valued at $111,000 after acquiring an additional 1,409 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in Monster Beverage by 17.5% in the third quarter. Cornerstone Advisors Inc. now owns 2,017 shares of the company’s stock valued at $118,000 after acquiring an additional 300 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in Monster Beverage in the third quarter valued at $129,000. 64.16% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:MNST traded up $0.46 during trading hours on Friday, reaching $57.89. 1,511,621 shares of the company were exchanged, compared to its average volume of 2,742,461. The company has a market cap of $32.01 billion, a P/E ratio of 39.65, a P/E/G ratio of 1.81 and a beta of 1.53. Monster Beverage Corp has a 52-week low of $47.61 and a 52-week high of $66.43.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $988.73 million. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. Monster Beverage’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, research analysts anticipate that Monster Beverage Corp will post 1.77 earnings per share for the current year.
In other Monster Beverage news, Director Harold C. Taber, Jr. sold 9,000 shares of the stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $54.55, for a total transaction of $490,950.00. Following the transaction, the director now directly owns 77,238 shares in the company, valued at approximately $4,213,332.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas J. Kelly sold 14,661 shares of the firm’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $53.73, for a total transaction of $787,735.53. Following the completion of the transaction, the executive vice president now owns 24,312 shares in the company, valued at $1,306,283.76. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.
A number of research analysts have commented on the stock. Zacks Investment Research lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. BidaskClub upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Morgan Stanley lowered shares of Monster Beverage from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $50.02 to $57.00 in a research note on Thursday, November 8th. Finally, BMO Capital Markets dropped their price target on shares of Monster Beverage to $60.00 and set an “outperform” rating on the stock in a research note on Friday, November 9th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $61.79.
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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