Federated Hermes Inc. Boosts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Federated Hermes Inc. increased its stake in Monster Beverage Co. (NASDAQ:MNST) by 377.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,402 shares of the company’s stock after purchasing an additional 12,966 shares during the quarter. Federated Hermes Inc.’s holdings in Monster Beverage were worth $945,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Monster Beverage by 20.3% in the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after purchasing an additional 3,296,466 shares in the last quarter. Northern Trust Corp boosted its stake in Monster Beverage by 3.3% during the third quarter. Northern Trust Corp now owns 7,638,653 shares of the company’s stock valued at $404,467,000 after buying an additional 243,401 shares during the period. Nordea Investment Management AB grew its position in Monster Beverage by 6.2% during the third quarter. Nordea Investment Management AB now owns 5,211,419 shares of the company’s stock worth $278,238,000 after buying an additional 305,086 shares in the last quarter. American Century Companies Inc. increased its stake in Monster Beverage by 33.5% in the 3rd quarter. American Century Companies Inc. now owns 3,782,074 shares of the company’s stock worth $200,261,000 after acquiring an additional 948,133 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Monster Beverage by 61.5% in the 3rd quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company’s stock valued at $181,713,000 after acquiring an additional 1,307,482 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Insider Activity at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were 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 of the company’s stock, valued at approximately $45,542,532. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Redburn Atlantic began coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They issued a “buy” rating on the stock. UBS Group lifted their price objective on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. cut Monster Beverage from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $66.00 to $59.00 in a research note on Thursday, April 25th. Jefferies Financial Group upped their price objective on Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price objective on Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.68.

Monster Beverage Trading Up 0.2 %

Monster Beverage stock opened at $53.54 on Thursday. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $61.22. The firm has a market cap of $55.77 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.22 and a beta of 0.72. The firm has a 50-day moving average of $56.88 and a 200-day moving average of $55.75.

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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. Research analysts forecast that Monster Beverage Co. will post 1.8 earnings per share for the current fiscal year.

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.