Suntrust Banks Inc. increased its position in Monster Beverage Co. (NASDAQ:MNST) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,776 shares of the company’s stock after buying an additional 1,295 shares during the period. Suntrust Banks Inc.’s holdings in Monster Beverage were worth $2,020,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in MNST. HPM Partners LLC purchased a new position in shares of Monster Beverage during the first quarter valued at approximately $661,000. Capital Fund Management S.A. increased its position in shares of Monster Beverage by 140.6% in the first quarter. Capital Fund Management S.A. now owns 505,681 shares of the company’s stock valued at $23,347,000 after buying an additional 295,481 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Monster Beverage by 34.8% in the first quarter. Daiwa Securities Group Inc. now owns 13,950 shares of the company’s stock valued at $644,000 after buying an additional 3,600 shares during the period. American Century Companies Inc. increased its position in shares of Monster Beverage by 161.4% in the first quarter. American Century Companies Inc. now owns 4,349,597 shares of the company’s stock valued at $200,821,000 after buying an additional 2,685,321 shares during the period. Finally, ING Groep NV purchased a new position in shares of Monster Beverage during the first quarter valued at approximately $4,729,000. Institutional investors own 28.01% of the company’s stock.
Monster Beverage Co. (NASDAQ:MNST) traded up 1.88% during mid-day trading on Friday, reaching $47.69. 2,221,310 shares of the company’s stock traded hands. Monster Beverage Co. has a 12 month low of $40.64 and a 12 month high of $55.50. The company has a 50 day moving average price of $46.05 and a 200-day moving average price of $44.93. The stock has a market cap of $27.08 billion, a P/E ratio of 38.40 and a beta of 0.77.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. Monster Beverage had a return on equity of 17.06% and a net margin of 23.07%. The business had revenue of $742.10 million for the quarter, compared to analysts’ expectations of $738.54 million. During the same period in the previous year, the business posted $0.79 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Monster Beverage Co. will post $1.48 EPS for the current year.
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Several research firms have issued reports on MNST. Credit Suisse Group AG set a $59.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a research report on Saturday, May 6th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Monster Beverage in a research report on Monday. Goldman Sachs Group Inc boosted their target price on shares of Monster Beverage from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $63.00 target price on shares of Monster Beverage in a research note on Monday. Finally, Morgan Stanley reissued an “overweight” rating and set a $58.00 price target on shares of Monster Beverage in a research note on Monday. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.49.
In other news, insider Mark J. Hall sold 93,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $46.12, for a total transaction of $4,289,160.00. Following the sale, the insider now directly owns 866,808 shares in the company, valued at $39,977,184.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harold C. Taber, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $47.08, for a total value of $706,200.00. Following the sale, the director now owns 70,001 shares in the company, valued at $3,295,647.08. The disclosure for this sale can be found here. Insiders sold a total of 595,500 shares of company stock worth $27,586,110 over the last 90 days. 9.20% of the stock is currently owned by company insiders.
Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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