Montag & Caldwell LLC decreased its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 313,839 shares of the company's stock after selling 173,737 shares during the period. Monster Beverage makes up about 3.2% of Montag & Caldwell LLC's portfolio, making the stock its 13th biggest holding. Montag & Caldwell LLC's holdings in Monster Beverage were worth $18,080,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new position in shares of Monster Beverage during the 3rd quarter valued at about $26,000. Headinvest LLC purchased a new position in shares of Monster Beverage in the 3rd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Monster Beverage in the 3rd quarter valued at about $31,000. Catalyst Capital Advisors LLC increased its stake in shares of Monster Beverage by 34.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company's stock valued at $41,000 after purchasing an additional 199 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Monster Beverage in the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 72.36% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on MNST shares. Royal Bank of Canada lifted their price target on Monster Beverage from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. Truist Financial cut Monster Beverage from a "buy" rating to a "sell" rating and lowered their price objective for the stock from $65.00 to $46.00 in a report on Thursday. JPMorgan Chase & Co. cut Monster Beverage from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $66.00 to $59.00 in a report on Thursday. BMO Capital Markets lifted their price objective on Monster Beverage from $57.00 to $58.00 and gave the stock a "market perform" rating in a report on Wednesday, January 17th. Finally, HSBC lowered their price objective on Monster Beverage from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.68.
View Our Latest Research Report on MNST
Monster Beverage Price Performance
Shares of NASDAQ MNST traded up $0.76 during midday trading on Monday, hitting $54.13. 3,998,165 shares of the company's stock were exchanged, compared to its average volume of 5,372,885. The firm's fifty day simple moving average is $56.95 and its 200-day simple moving average is $55.72. The company has a market cap of $56.33 billion, a PE ratio of 34.92, a P/E/G ratio of 2.18 and a beta of 0.72. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month 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 EPS for the quarter, meeting analysts' consensus estimates of $0.38. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.28 EPS. The company's revenue was up 14.4% on a year-over-year basis. Equities analysts anticipate that Monster Beverage Co. will post 1.81 EPS for the current fiscal year.
Insider Activity
In related news, Director Mark J. Hall sold 659,000 shares of the firm'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 transaction, the director now owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.40% of the company's stock.
Monster Beverage Company Profile
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Free Report)
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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