Oppenheimer & Co. Inc. lifted its stake in Monster Beverage (NASDAQ:MNST) by 72.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,978 shares of the company’s stock after purchasing an additional 4,606 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Monster Beverage were worth $628,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. ARP Americas LP raised its position in shares of Monster Beverage by 495.2% in the 1st quarter. ARP Americas LP now owns 25,000 shares of the company’s stock worth $1,430,000 after acquiring an additional 20,800 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in Monster Beverage by 35.5% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,375 shares of the company’s stock valued at $365,000 after purchasing an additional 1,670 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Monster Beverage by 42.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 275,457 shares of the company’s stock valued at $15,759,000 after purchasing an additional 81,532 shares during the last quarter. Montag & Caldwell LLC boosted its stake in shares of Monster Beverage by 7.2% in the first quarter. Montag & Caldwell LLC now owns 1,554,472 shares of the company’s stock worth $88,931,000 after buying an additional 104,319 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Monster Beverage by 11.5% in the first quarter. Wells Fargo & Company MN now owns 3,841,741 shares of the company’s stock worth $219,785,000 after buying an additional 394,860 shares during the last quarter. Institutional investors own 65.66% of the company’s stock.
In other Monster Beverage news, Director Mark J. Hall sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $58.11, for a total value of $1,917,630.00. Following the sale, the director now owns 791,808 shares in the company, valued at $46,011,962.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Norman Epstein sold 7,770 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $56.09, for a total transaction of $435,819.30. Following the completion of the transaction, the director now owns 14,280 shares of the company’s stock, valued at $800,965.20. The disclosure for this sale can be found here. Insiders sold 55,770 shares of company stock worth $3,228,099 in the last 90 days. 9.70% of the stock is owned by company insiders.
Monster Beverage opened at $49.60 on Monday, Marketbeat Ratings reports. The stock has a market capitalization of $27.84 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 1.81 and a beta of 1.24. Monster Beverage has a 1-year low of $46.66 and a 1-year high of $70.21.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Tuesday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $850.92 million for the quarter, compared to analyst estimates of $845.88 million. Monster Beverage had a net margin of 24.69% and a return on equity of 22.88%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. equities research analysts predict that Monster Beverage will post 1.71 earnings per share for the current year.
Monster Beverage declared that its board has approved a share repurchase program on Thursday, March 1st that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
A number of equities analysts recently weighed in on the company. Cowen reaffirmed a “buy” rating and issued a $77.00 price target on shares of Monster Beverage in a report on Monday, January 22nd. Zacks Investment Research cut Monster Beverage from a “hold” rating to a “sell” rating in a report on Wednesday, March 21st. Citigroup set a $70.00 price objective on Monster Beverage and gave the stock a “buy” rating in a research report on Monday, April 9th. Stifel Nicolaus lowered their price objective on Monster Beverage from $73.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $72.00 price target (down previously from $77.00) on shares of Monster Beverage in a report on Thursday, March 1st. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $62.82.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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