Allworth Financial LP Grows Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Allworth Financial LP boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 44.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,694 shares of the company’s stock after buying an additional 521 shares during the quarter. Allworth Financial LP’s holdings in Monster Beverage were worth $98,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fulton Bank N.A. raised its holdings in Monster Beverage by 3.5% during the 4th quarter. Fulton Bank N.A. now owns 20,652 shares of the company’s stock valued at $1,190,000 after buying an additional 690 shares during the period. Arkadios Wealth Advisors raised its holdings in Monster Beverage by 3.1% during the 4th quarter. Arkadios Wealth Advisors now owns 31,622 shares of the company’s stock valued at $1,822,000 after buying an additional 960 shares during the period. International Assets Investment Management LLC raised its holdings in Monster Beverage by 1,220.2% during the 4th quarter. International Assets Investment Management LLC now owns 36,755 shares of the company’s stock valued at $2,117,000 after buying an additional 33,971 shares during the period. Avitas Wealth Management LLC raised its holdings in Monster Beverage by 1.7% during the 4th quarter. Avitas Wealth Management LLC now owns 26,253 shares of the company’s stock valued at $1,512,000 after buying an additional 448 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in Monster Beverage by 6.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 427,014 shares of the company’s stock valued at $24,519,000 after buying an additional 26,196 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.5 %

MNST opened at $55.01 on Friday. The company has a market capitalization of $57.25 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.12 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. The business’s fifty day simple moving average is $57.40 and its 200-day simple moving average is $55.47.

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

Insider Buying and Selling

In related news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Redburn Atlantic assumed coverage on Monster Beverage in a research report on Wednesday, March 6th. They issued a “buy” rating on the stock. HSBC cut their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. The Goldman Sachs Group upped their price objective on Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. BMO Capital Markets upped their price objective on Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, January 17th. Finally, UBS Group upped their price objective on Monster Beverage from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.11.

Monster Beverage 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.