Graypoint LLC Lowers Stake in Monster Beverage Co. (NASDAQ:MNST)

Graypoint LLC trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,489 shares of the company’s stock after selling 201 shares during the quarter. Graypoint LLC’s holdings in Monster Beverage were worth $374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in shares of Monster Beverage by 98.4% in the first quarter. State Street Corp now owns 34,001,871 shares of the company’s stock worth $1,836,434,000 after acquiring an additional 16,863,544 shares in the last quarter. Vanguard Group Inc. increased its holdings in Monster Beverage by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 30,005,150 shares of the company’s stock valued at $2,397,411,000 after purchasing an additional 504,239 shares in the last quarter. Wellington Management Group LLP raised its position in Monster Beverage by 20.3% in the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after purchasing an additional 3,296,466 shares during the period. Geode Capital Management LLC lifted its stake in shares of Monster Beverage by 103.0% during the first quarter. Geode Capital Management LLC now owns 14,361,510 shares of the company’s stock worth $773,729,000 after purchasing an additional 7,287,123 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Monster Beverage by 10.0% in the first quarter. Clearbridge Investments LLC now owns 10,071,948 shares of the company’s stock worth $804,749,000 after buying an additional 912,942 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $55.01 on Monday. The company has a market capitalization of $57.25 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.12 and a beta of 0.72. The stock’s 50 day moving average price is $57.40 and its 200 day moving average price is $55.49. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. Monster Beverage’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. As a group, sell-side analysts forecast that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a “buy” rating on the stock. HSBC reduced their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price objective on Monster Beverage from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, February 26th. Finally, Citigroup boosted their price objective on Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.11.

About Monster Beverage

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.