Corient Private Wealth LLC Purchases 364,929 Shares of Monster Beverage Co. (NASDAQ:MNST)

Corient Private Wealth LLC raised its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 192.3% during the fourth quarter, HoldingsChannel reports. The firm owned 554,651 shares of the company’s stock after purchasing an additional 364,929 shares during the period. Corient Private Wealth LLC’s holdings in Monster Beverage were worth $29,153,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of Monster Beverage by 4.8% in the 3rd quarter. Empowered Funds LLC now owns 24,921 shares of the company’s stock valued at $1,300,000 after purchasing an additional 1,137 shares in the last quarter. Claro Advisors LLC bought a new stake in Monster Beverage in the third quarter worth $393,000. Thrivent Financial for Lutherans boosted its position in Monster Beverage by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 39,187 shares of the company’s stock valued at $2,045,000 after buying an additional 259 shares during the period. Caprock Group LLC grew its position in Monster Beverage by 5.5% during the 3rd quarter. Caprock Group LLC now owns 14,057 shares of the company’s stock worth $733,000 after acquiring an additional 733 shares during the last quarter. Finally, Knuff & Co LLC grew its holdings in shares of Monster Beverage by 24.5% in the third quarter. Knuff & Co LLC now owns 94,989 shares of the company’s stock worth $4,956,000 after purchasing an additional 18,669 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In other 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 transaction of $552,700.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Guy Carling sold 47,000 shares of Monster Beverage stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the completion of the sale, the insider now owns 21,993 shares of the company’s stock, valued at $1,210,054.86. This represents a 68.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,316 shares of company stock worth $11,484,440 over the last quarter. 7.80% of the stock is currently owned by insiders.

Monster Beverage Stock Up 1.0 %

NASDAQ:MNST opened at $56.80 on Wednesday. The firm has a 50-day simple moving average of $50.99 and a two-hundred day simple moving average of $51.92. The firm has a market cap of $55.28 billion, a P/E ratio of 36.41, a P/E/G ratio of 2.28 and a beta of 0.71. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. Analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research note on Wednesday, January 22nd. BNP Paribas dropped their price objective on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. UBS Group upped their target price on Monster Beverage from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.83.

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.