Independence Bank of Kentucky bought a new position in Monster Beverage Co. (NASDAQ: MNST – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,062 shares of the company stock, valued at approximately $ 85,000.
Several other institutional investors and hedge funds have also made changes to their positions in MNST. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Monster Beverage in the first quarter worth about $ 17,900,000. Gateway Investment Advisers LLC raised its holdings in Monster Beverage by 0.7% in the 1st quarter. Gateway Investment Advisers LLC now owns 313,715 shares of the company stock worth $ 25,066,000 after acquiring an additional 2,179 shares during the period. New England Professional Planning Group Inc. acquired a new stake in shares of Monster Beverage in the first quarter valued at about $ 388,000. Heartland Bank & Trust Co increased its stake in shares of Monster Beverage by 64.4% in the first quarter. Heartland Bank & Trust Co now owns 7,015 shares of the company stock worth $ 560,000 after purchasing an additional 2,747 shares during the period. Finally, Gibraltar Capital Management Inc. lifted its position in shares of Monster Beverage by 8.1% during the 1st quarter. Gibraltar Capital Management Inc. now owns 45,022 shares of the company stock worth $ 3,597,000 after purchasing an additional 3,391 shares during the last quarter. Institutional investors own 63.44% of the company stock.
Several analysts have issued reports on MNST shares. Sanford C. Bernstein upgraded shares of Monster Beverage from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $ 97.00 to $ 110.00 in a research report on Wednesday, May 18th. Wells Fargo & Company raised their target price on Monster Beverage from $ 100.00 to $ 105.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. StockNews.com began coverage on shares of Monster Beverage in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Cowen dropped their price target on shares of Monster Beverage from $ 92.00 to $ 90.00 and set a “market perform” rating for the company in a research report on Friday, February 25th. Finally, Stifel Nicolaus cut their target price on Monster Beverage from $ 107.00 to $ 103.00 and set a “buy” rating for the company in a research report on Thursday, March 10th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and an average price target of $ 100.85.
Shares of NASDAQ: MNST opened at $ 94.58 on Friday. The firm’s 50 day simple moving average is $ 87.54 and its 200 day simple moving average is $ 86.10. Monster Beverage Co. has a fifty-two week low of $ 71.78 and a fifty-two week high of $ 99.89. The company has a market capitalization of $ 50.10 billion, a price-to-earnings ratio of 37.38, a P / E / G ratio of 2.19 and a beta of 1.01.
Monster Beverage (NASDAQ: MNST – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $ 0.55 EPS for the quarter, missing analysts’ consensus estimates of $ 0.60 by ($ 0.05). The firm had revenue of $ 1.52 billion during the quarter, compared to the consensus estimate of $ 1.43 billion. Monster Beverage had a net margin of 23.32% and a return on equity of 21.21%. Monster Beverage’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $ 0.59 EPS. On average, equities analysts anticipate that Monster Beverage Co. will post 2.68 earnings per share for the current year.
In related news, insider Guy Carling sold 26,299 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $ 90.73, for a total transaction of $ 2,386,108.27. Following the completion of the transaction, the insider now owns 25,901 shares in the company, valued at $ 2,349,997.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Emelie Tirre sold 40,729 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $ 88.06, for a total transaction of $ 3,586,595.74. Following the completion of the transaction, the insider now directly owns 19,526 shares of the company stock, valued at approximately $ 1,719,459.56. The disclosure for this sale can be found here. Insiders have sold a total of 117,028 shares of company stock worth $ 10,522,704 over the last 90 days. Corporate insiders own 10.50% of the company stock.
Monster Beverage Profile: (Get Rating)
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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.
Read More:
Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Co. (NASDAQ: MNST – Get Rating).
Receive News & Ratings for Monster Beverage Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Monster Beverage and related companies with MarketBeat.com’s FREE daily email newsletter.
.