Rockefeller Capital Management L.P. grew its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.5% during the 1st quarter, HoldingsChannel reports. The firm owned 29,524 shares of the company’s stock after buying an additional 2,315 shares during the period. Rockefeller Capital Management L.P.’s holdings in Monster Beverage were worth $2,689,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Journey Advisory Group LLC boosted its position in shares of Monster Beverage by 3.8% during the 1st quarter. Journey Advisory Group LLC now owns 4,763 shares of the company’s stock valued at $434,000 after acquiring an additional 175 shares during the last quarter. Barings LLC acquired a new position in shares of Monster Beverage during the 1st quarter valued at about $360,000. Berman Capital Advisors LLC boosted its position in shares of Monster Beverage by 43.8% during the 1st quarter. Berman Capital Advisors LLC now owns 1,090 shares of the company’s stock valued at $99,000 after acquiring an additional 332 shares during the last quarter. Summit Wealth Group LLC acquired a new position in shares of Monster Beverage during the 1st quarter valued at about $29,000. Finally, Cutter & CO Brokerage Inc. purchased a new stake in Monster Beverage in the 1st quarter valued at about $206,000. 63.30% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on MNST. Truist boosted their price objective on shares of Monster Beverage from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 7th. Credit Suisse Group upped their price target on Monster Beverage from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Tuesday, March 16th. Truist Financial increased their price objective on Monster Beverage from $105.00 to $115.00 in a report on Friday, May 7th. Morgan Stanley upped their price target on Monster Beverage from $106.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. Finally, Argus upped their price target on Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 1st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $101.16.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 6th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The firm 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 business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. Research analysts forecast that Monster Beverage Co. will post 2.6 earnings per share for the current fiscal year.
In related news, insider Emelie Tirre sold 42,786 shares of the firm’s stock in a transaction dated Thursday, June 3rd. The stock was sold at an average price of $95.08, for a total transaction of $4,068,092.88. Following the sale, 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 is accessible through this link. Company insiders own 10.60% of the company’s stock.
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 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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