Monster Beverage Corp (NASDAQ:MNST) Shares Sold by Strs Ohio
Strs Ohio cut its holdings in Monster Beverage Corp (NASDAQ:MNST) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,105 shares of the company’s stock after selling 12,095 shares during the quarter. Strs Ohio’s holdings in Monster Beverage were worth $13,987,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Bank boosted its position in Monster Beverage by 60.4% during the fourth quarter. Pinnacle Bank now owns 433 shares of the company’s stock worth $28,000 after acquiring an additional 163 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in Monster Beverage during the fourth quarter worth approximately $36,000. Patriot Financial Group Insurance Agency LLC boosted its position in Monster Beverage by 100.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 600 shares of the company’s stock worth $38,000 after acquiring an additional 300 shares during the last quarter. CENTRAL TRUST Co boosted its position in Monster Beverage by 40.4% during the fourth quarter. CENTRAL TRUST Co now owns 660 shares of the company’s stock worth $42,000 after acquiring an additional 190 shares during the last quarter. Finally, Barnett & Company Inc. boosted its position in Monster Beverage by 2,962.5% during the fourth quarter. Barnett & Company Inc. now owns 735 shares of the company’s stock worth $47,000 after acquiring an additional 711 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.
In other Monster Beverage news, insider Guy Carling sold 42,750 shares of Monster Beverage stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.32, for a total value of $2,664,180.00. Following the transaction, the insider now owns 35,785 shares in the company, valued at approximately $2,230,121.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Emelie Tirre sold 10,500 shares of Monster Beverage stock in a transaction on Monday, November 25th. The shares were sold at an average price of $58.58, for a total transaction of $615,090.00. Following the completion of the transaction, the insider now owns 63,101 shares in the company, valued at approximately $3,696,456.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,250 shares of company stock worth $5,261,580. 10.20% of the stock is owned by company insiders.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.23%. Monster Beverage’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. Equities research analysts anticipate that Monster Beverage Corp will post 2.04 EPS for the current year.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Monster Beverage from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research report on Monday, January 13th. Deutsche Bank raised their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Co decreased their target price on shares of Monster Beverage from $59.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Cowen lowered shares of Monster Beverage from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $69.00 to $65.00 in a research report on Thursday, October 17th. Finally, Jefferies Financial Group raised their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $66.44.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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