Tortoise Investment Management LLC Increases Position in Monster Beverage Co. (NASDAQ:MNST)

Tortoise Investment Management LLC raised its position in Monster Beverage Co. (NASDAQ:MNST) by 360.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 506 shares of the company’s stock after purchasing an additional 396 shares during the period. Tortoise Investment Management LLC’s holdings in Monster Beverage were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Headinvest LLC purchased a new stake in shares of Monster Beverage in the 3rd quarter valued at approximately $28,000. Quent Capital LLC boosted its holdings in shares of Monster Beverage by 40.8% in the 4th quarter. Quent Capital LLC now owns 1,180 shares of the company’s stock valued at $68,000 after buying an additional 342 shares in the last quarter. Annapolis Financial Services LLC boosted its holdings in shares of Monster Beverage by 272.5% in the 4th quarter. Annapolis Financial Services LLC now owns 1,542 shares of the company’s stock valued at $89,000 after buying an additional 1,128 shares in the last quarter. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of Monster Beverage by 2,653.6% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,542 shares of the company’s stock valued at $89,000 after buying an additional 1,486 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in shares of Monster Beverage in the 4th quarter valued at $93,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Monster Beverage stock traded down $0.69 during trading hours on Friday, reaching $48.03. 10,690,785 shares of the stock were exchanged, compared to its average volume of 16,041,837. The firm’s 50 day moving average is $53.27 and its 200 day moving average is $55.67. The stock has a market cap of $50.03 billion, a P/E ratio of 30.21, a P/E/G ratio of 1.81 and a beta of 0.76. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts expect that Monster Beverage Co. will post 1.77 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark J. Hall sold 250,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $52.22, for a total value of $13,055,000.00. Following the completion of the transaction, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 250,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock worth $16,070,374 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MNST has been the subject of several research analyst reports. Stifel Nicolaus lowered their target price on shares of Monster Beverage from $65.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 29th. Redburn Atlantic initiated coverage on shares of Monster Beverage in a report on Wednesday, March 6th. They issued a “buy” rating for the company. JPMorgan Chase & Co. cut shares of Monster Beverage from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $59.00 in a report on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Monster Beverage in a report on Friday. Finally, Piper Sandler increased their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $61.11.

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.