Rhumbline Advisers Has $86.93 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

Rhumbline Advisers increased its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,485,403 shares of the company's stock after buying an additional 19,707 shares during the period. Rhumbline Advisers owned 0.15% of Monster Beverage worth $86,926,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in Monster Beverage by 62.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after purchasing an additional 203 shares during the period. Bleakley Financial Group LLC lifted its holdings in Monster Beverage by 1.5% in the fourth quarter. Bleakley Financial Group LLC now owns 13,578 shares of the company's stock valued at $714,000 after buying an additional 203 shares during the period. CreativeOne Wealth LLC grew its holdings in Monster Beverage by 1.9% during the 4th quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company's stock worth $622,000 after acquiring an additional 217 shares during the period. Level Four Advisory Services LLC lifted its stake in shares of Monster Beverage by 4.6% in the 4th quarter. Level Four Advisory Services LLC now owns 4,996 shares of the company's stock valued at $263,000 after purchasing an additional 220 shares during the period. Finally, Sapient Capital LLC boosted its position in shares of Monster Beverage by 0.5% in the 4th quarter. Sapient Capital LLC now owns 46,082 shares of the company's stock worth $2,422,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

MNST has been the subject of several research analyst reports. Truist Financial boosted their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a report on Friday, February 28th. The Goldman Sachs Group set a $67.00 price objective on shares of Monster Beverage and gave the stock a "buy" rating in a report on Friday, May 23rd. Roth Mkm upped their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Finally, Bank of America lifted their price target on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.81.

Monster Beverage Stock Performance

NASDAQ:MNST traded down $0.16 during mid-day trading on Thursday, hitting $63.00. The stock had a trading volume of 4,586,488 shares, compared to its average volume of 6,164,632. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $64.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The stock has a market cap of $61.44 billion, a price-to-earnings ratio of 40.38, a PEG ratio of 2.28 and a beta of 0.63. The company's 50 day simple moving average is $60.23 and its 200 day simple moving average is $55.07.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. During the same period in the previous year, the company posted $0.42 EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $63.40, for a total value of $1,711,800.00. Following the transaction, the chief financial officer now directly owns 69,273 shares of the company's stock, valued at $4,391,908.20. This represents a 28.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Guy Carling sold 47,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.02, for a total value of $2,585,940.00. Following the sale, the insider now owns 21,993 shares of the company's stock, valued at approximately $1,210,054.86. This represents a 68.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,796 shares of company stock valued at $8,688,558 over the last ninety days. 8.30% of the stock is currently owned by company insiders.

Monster Beverage Company 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.