Assetmark Inc. Raises Position in Monster Beverage Co. (NASDAQ:MNST)

Assetmark Inc. grew its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 192,048 shares of the company’s stock after purchasing an additional 3,211 shares during the quarter. Assetmark Inc.’s holdings in Monster Beverage were worth $11,064,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MNST. Headinvest LLC acquired a new stake in shares of Monster Beverage during the third quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Monster Beverage during the third quarter valued at about $31,000. Catalyst Capital Advisors LLC lifted its position in shares of Monster Beverage by 34.6% during the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock worth $41,000 after purchasing an additional 199 shares during the last quarter. Quent Capital LLC lifted its position in shares of Monster Beverage by 40.8% during the fourth quarter. Quent Capital LLC now owns 1,180 shares of the company’s stock worth $68,000 after purchasing an additional 342 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new position in shares of Monster Beverage during the third quarter worth about $87,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Down 0.3 %

Monster Beverage stock traded down $0.15 during mid-day trading on Wednesday, hitting $53.23. The company’s stock had a trading volume of 1,226,980 shares, compared to its average volume of 5,563,378. The stock has a market capitalization of $55.45 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.24 and a beta of 0.74. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The stock’s fifty day moving average price is $55.93 and its two-hundred day moving average price is $56.14.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts expect that Monster Beverage Co. will post 1.77 earnings per share for the current year.

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 transaction of $38,584,450.00. Following the sale, 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 document filed with the SEC, which is available through the SEC website. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MNST. Stifel Nicolaus reduced their price target on shares of Monster Beverage from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets reduced their price target on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and cut their target price for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. HSBC cut their target price on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Finally, UBS Group cut their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.32.

Monster Beverage Company Profile

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.