E Fund Management Co. Ltd. Lowers Holdings in Monster Beverage Co. (NASDAQ:MNST)

E Fund Management Co. Ltd. decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,960 shares of the company’s stock after selling 1,082 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Monster Beverage were worth $574,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Peoples Bank KS purchased a new position in Monster Beverage in the 3rd quarter worth about $26,000. Headinvest LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at about $31,000. Catalyst Capital Advisors LLC increased its position in shares of Monster Beverage by 34.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock valued at $41,000 after purchasing an additional 199 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.40% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the subject of several research reports. Royal Bank of Canada upped their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. HSBC reduced their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. UBS Group reduced their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group boosted their price objective on Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus price target of $61.32.

Monster Beverage Stock Performance

Shares of MNST traded down $0.37 during mid-day trading on Wednesday, hitting $54.30. 6,701,281 shares of the stock were exchanged, compared to its average volume of 5,591,955. The company has a market cap of $56.57 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22. The firm has a 50-day moving average of $56.78 and a two-hundred day moving average of $55.92.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. On average, sell-side analysts predict that Monster Beverage Co. will post 1.79 EPS for the current year.

About Monster Beverage

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.