Pinnacle Wealth Management LLC Increases Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Pinnacle Wealth Management LLC raised its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 79.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 49,520 shares of the company's stock after purchasing an additional 21,996 shares during the period. Monster Beverage accounts for approximately 3.3% of Pinnacle Wealth Management LLC's portfolio, making the stock its 16th biggest holding. Pinnacle Wealth Management LLC's holdings in Monster Beverage were worth $2,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Monster Beverage by 98.4% in the 1st quarter. State Street Corp now owns 34,001,871 shares of the company's stock worth $1,836,434,000 after acquiring an additional 16,863,544 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Monster Beverage by 103.0% in the 1st quarter. Geode Capital Management LLC now owns 14,361,510 shares of the company's stock worth $773,729,000 after acquiring an additional 7,287,123 shares during the last quarter. Norges Bank acquired a new stake in shares of Monster Beverage in the 4th quarter worth $363,374,000. Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 3,296,466 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Monster Beverage by 32.8% in the 2nd quarter. Barclays PLC now owns 9,747,630 shares of the company's stock worth $559,905,000 after acquiring an additional 2,407,774 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analysts Set New Price Targets

MNST has been the subject of a number of recent research reports. BMO Capital Markets raised their target price on Monster Beverage from $57.00 to $58.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 17th. Morgan Stanley raised their price objective on Monster Beverage from $63.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on Monster Beverage from $61.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 17th. The Goldman Sachs Group raised their price objective on Monster Beverage from $62.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, January 17th. Finally, Redburn Atlantic started coverage on Monster Beverage in a research report on Wednesday, March 6th. They set a "buy" rating for the company. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.55.

Insider Buying and Selling

In related news, Director Mark J. Hall sold 659,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.40% of the stock is owned by company insiders.

Monster Beverage Stock Performance

Shares of MNST traded down $0.20 during midday trading on Thursday, hitting $55.75. The company had a trading volume of 5,565,732 shares, compared to its average volume of 5,264,917. The company's 50-day simple moving average is $57.40 and its 200-day simple moving average is $55.47. The firm has a market capitalization of $58.02 billion, a P/E ratio of 36.10, a P/E/G ratio of 2.20 and a beta of 0.72. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22.

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

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.

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