Rockefeller Capital Management L.P. Purchases 2,315 Shares of Monster Beverage Co. (NASDAQ:MNST)

Rockefeller Capital Management L.P. grew its position in Monster Beverage Co. (NASDAQ:MNST) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,524 shares of the company’s stock after purchasing an additional 2,315 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Monster Beverage were worth $2,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Huntington National Bank boosted its position in shares of Monster Beverage by 82.2% during the first quarter. Huntington National Bank now owns 277 shares of the company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Summit Wealth Group LLC bought a new position in shares of Monster Beverage during the first quarter worth $29,000. Catalyst Capital Advisors LLC bought a new position in shares of Monster Beverage during the fourth quarter worth $34,000. Carroll Financial Associates Inc. boosted its position in shares of Monster Beverage by 330.2% during the first quarter. Carroll Financial Associates Inc. now owns 413 shares of the company’s stock worth $37,000 after acquiring an additional 317 shares during the last quarter. Finally, NuWave Investment Management LLC bought a new position in shares of Monster Beverage during the first quarter worth $38,000. Hedge funds and other institutional investors own 63.30% of the company’s stock.

MNST stock opened at $93.77 on Friday. The stock has a market cap of $49.56 billion, a P/E ratio of 34.60, a PEG ratio of 2.73 and a beta of 1.10. Monster Beverage Co. has a 12 month low of $66.62 and a 12 month high of $99.24. The business has a 50-day moving average of $94.43.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.02). The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Monster Beverage had a return on equity of 26.31% and a net margin of 30.25%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Analysts expect that Monster Beverage Co. will post 2.6 EPS for the current year.

In other Monster Beverage news, insider Emelie Tirre sold 42,786 shares of the stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $95.08, for a total transaction of $4,068,092.88. Following the transaction, the insider now directly owns 14,557 shares in the company, valued at approximately $1,384,079.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.60% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on MNST shares. Truist Securities upped their target price on shares of Monster Beverage from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 7th. Truist upped their price target on shares of Monster Beverage from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 7th. Truist Financial upped their price target on shares of Monster Beverage from $105.00 to $115.00 in a research note on Friday, May 7th. Morgan Stanley upped their price target on shares of Monster Beverage from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, April 19th. Finally, Credit Suisse Group upped their price target on shares of Monster Beverage from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Tuesday, March 16th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Monster Beverage currently has an average rating of “Buy” and an average price target of $101.16.

About Monster Beverage

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 carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy teas and shakes, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience chains, drug stores, foodservice customers, value stores, e-commerce retailers, and the military; and concentrates and/or beverage bases to bottling and canning operations.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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