Stonegate Investment Group LLC Buys New Shares in Monster Beverage Co. (NASDAQ:MNST)

Stonegate Investment Group LLC acquired a new position in shares of Monster Beverage Co. (NASDAQ:MNSTFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,608 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNST. Freedom Wealth Alliance LLC bought a new position in Monster Beverage during the fourth quarter worth $25,000. Peoples Bank KS bought a new position in Monster Beverage during the third quarter worth $26,000. Resurgent Financial Advisors LLC bought a new position in Monster Beverage during the fourth quarter worth $26,000. Ancora Advisors LLC bought a new position in Monster Beverage during the first quarter worth $27,000. Finally, Quarry LP boosted its position in Monster Beverage by 276.1% during the first quarter. Quarry LP now owns 504 shares of the company’s stock worth $27,000 after purchasing an additional 370 shares during the period. 72.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of research reports. Jefferies Financial Group lifted their target price on Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. UBS Group lifted their target price on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, February 26th. Citigroup lifted their target price on Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Royal Bank of Canada lifted their target price on Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $62.55.

Get Our Latest Stock Report on Monster Beverage

Monster Beverage Trading Down 1.7 %

Shares of NASDAQ MNST opened at $55.95 on Thursday. The company has a market cap of $58.22 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.23 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 stock has a 50-day moving average price of $57.38 and a two-hundred day moving average price of $55.46.

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

Insiders Place Their Bets

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 777,840 shares of the company’s stock, valued at $45,542,532. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.40% of the company’s stock.

Monster Beverage Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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