Quest Partners LLC Takes $840,000 Position in Monster Beverage Co. (NASDAQ:MNST)

Quest Partners LLC bought a new stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,576 shares of the company's stock, valued at approximately $840,000.

Several other hedge funds have also recently modified their holdings of MNST. Corient Private Wealth LLC boosted its position in shares of Monster Beverage by 112.2% during the 3rd quarter. Corient Private Wealth LLC now owns 195,272 shares of the company's stock valued at $10,339,000 after acquiring an additional 103,271 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $7,340,000. Defender Capital LLC. raised its position in shares of Monster Beverage by 30.2% during the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company's stock valued at $21,378,000 after buying an additional 86,050 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Monster Beverage by 9.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company's stock valued at $590,000 after buying an additional 900 shares during the period. Finally, Norges Bank acquired a new position in Monster Beverage in the fourth quarter valued at approximately $517,035,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the transaction, the director now directly owns 777,840 shares of the company's stock, valued at approximately $45,542,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.80% of the stock is owned by company insiders.

Monster Beverage Trading Down 0.5 %

Shares of NASDAQ MNST traded down $0.28 during trading hours on Wednesday, reaching $53.10. The stock had a trading volume of 6,533,884 shares, compared to its average volume of 5,617,855. The firm has a 50-day moving average of $55.93 and a 200-day moving average of $56.14. The firm has a market cap of $55.32 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.24 and a beta of 0.74. Monster Beverage Co. has a fifty-two week low of $47.13 and a fifty-two week high of $61.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business's revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts predict that Monster Beverage Co. will post 1.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Monster Beverage from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. Stifel Nicolaus decreased their price objective on shares of Monster Beverage from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Monday, April 29th. BMO Capital Markets dropped their target price on shares of Monster Beverage from $58.00 to $56.00 and set a "market perform" rating for the company in a report on Friday, May 3rd. Piper Sandler boosted their target price on Monster Beverage from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, May 3rd. Finally, UBS Group lowered their price target on Monster Beverage from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.32.

About Monster Beverage

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.