NorthRock Partners LLC Buys Shares of 7,175 Monster Beverage Co. (NASDAQ:MNST)

NorthRock Partners LLC bought a new stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,175 shares of the company's stock, valued at approximately $377,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sustainable Insight Capital Management LLC purchased a new stake in shares of Monster Beverage in the fourth quarter worth $1,214,000. Van ECK Associates Corp increased its stake in shares of Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock worth $8,101,000 after purchasing an additional 7,780 shares in the last quarter. Alliance Wealth Advisors LLC UT purchased a new stake in shares of Monster Beverage in the fourth quarter worth $423,000. SYM FINANCIAL Corp purchased a new stake in shares of Monster Beverage in the fourth quarter worth $557,000. Finally, Empower Advisory Group LLC increased its stake in shares of Monster Beverage by 6.5% in the fourth quarter. Empower Advisory Group LLC now owns 1,262,180 shares of the company's stock worth $66,340,000 after purchasing an additional 77,278 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Monster Beverage stock opened at $62.86 on Friday. The firm has a 50-day moving average price of $58.49 and a 200-day moving average price of $54.24. The firm has a market capitalization of $61.30 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $62.92.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on MNST shares. Roth Capital increased their price objective on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday. CICC Research upgraded shares of Monster Beverage from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $56.00 to $65.00 in a research report on Monday, May 12th. TD Cowen upped their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Truist Financial upped their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their target price on shares of Monster Beverage from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Monster Beverage currently has a consensus rating of "Hold" and an average target price of $60.50.

Insider Transactions at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the transaction, the chief financial officer now owns 72,273 shares of the company's stock, valued at $3,994,528.71. This trade represents a 12.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the transaction, the insider now directly owns 76,201 shares in the company, valued at $4,220,011.38. This represents a 54.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,316 shares of company stock worth $11,484,440. 8.30% of the stock is currently owned by insiders.

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.

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