59,458 Shares in Monster Beverage Corporation (NASDAQ:MNST) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 59,458 shares of the company's stock, valued at approximately $3,479,000.

Other large investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its stake in Monster Beverage by 76.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock valued at $3,915,000 after acquiring an additional 28,932 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Monster Beverage by 2.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock valued at $18,475,000 after purchasing an additional 7,465 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Monster Beverage by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock valued at $75,455,000 after purchasing an additional 11,443 shares during the last quarter. iA Global Asset Management Inc. increased its position in shares of Monster Beverage by 5.8% during the 4th quarter. iA Global Asset Management Inc. now owns 113,866 shares of the company's stock valued at $5,985,000 after purchasing an additional 6,210 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Monster Beverage by 28.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company's stock valued at $2,136,000 after purchasing an additional 8,155 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

NASDAQ MNST opened at $58.65 on Thursday. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.09 and a beta of 0.59. Monster Beverage Corporation has a twelve month low of $43.32 and a twelve month high of $64.45. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $62.37 and a 200 day moving average of $56.91.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the subject of several research analyst reports. Roth Mkm raised their target price on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. UBS Group lifted their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Morgan Stanley lifted their price objective on Monster Beverage from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Bank of America lifted their price objective on Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Finally, Stifel Nicolaus started coverage on Monster Beverage in a report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Monster Beverage presently has a consensus rating of "Hold" and a consensus target price of $61.87.

Insiders Place Their Bets

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the sale, the chief financial officer directly owned 69,273 shares in the company, valued at $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider directly owned 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is owned by corporate insiders.

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.

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