Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,977 shares of the company’s stock after selling 5,916 shares during the quarter. Logan Capital Management Inc.’s holdings in Monster Beverage were worth $7,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Monster Beverage during the 4th quarter valued at $442,642,000. CIBC Private Wealth Group LLC lifted its position in shares of Monster Beverage by 659.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company’s stock worth $251,445,000 after purchasing an additional 4,231,063 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its position in shares of Monster Beverage by 250.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock worth $178,801,000 after purchasing an additional 2,480,291 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in Monster Beverage in the fourth quarter worth about $121,575,000. Finally, Raymond James Financial Inc. bought a new stake in Monster Beverage in the fourth quarter valued at about $106,882,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

NASDAQ:MNST opened at $61.14 on Monday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $57.88 and its 200 day moving average price is $53.96. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.83. The firm has a market cap of $59.62 billion, a P/E ratio of 39.19, a PEG ratio of 2.28 and a beta of 0.63.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, sell-side analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the transaction, the chief financial officer now directly owns 72,273 shares of the company’s stock, valued at $3,994,528.71. This represents a 12.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the sale, the insider now owns 76,201 shares of the company’s stock, valued at approximately $4,220,011.38. This represents a 54.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,316 shares of company stock worth $11,484,440. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MNST shares. TD Cowen lifted their target price on Monster Beverage from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Friday. Jefferies Financial Group increased their target price on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 28th. Bank of America increased their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, Citigroup raised their target price on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.17.

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.