Rockefeller Capital Management L.P. Raises Holdings in Monster Beverage Corporation $MNST

Rockefeller Capital Management L.P. increased its position in Monster Beverage Corporation (NASDAQ:MNST) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 197,899 shares of the company’s stock after purchasing an additional 12,050 shares during the period. Rockefeller Capital Management L.P.’s holdings in Monster Beverage were worth $15,173,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MNST. Harbor Investment Advisory LLC increased its position in Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after buying an additional 205 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. grew its position in shares of Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after acquiring an additional 415 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Monster Beverage in the 4th quarter valued at $35,000. Finally, Miller Capital Partners Inc. purchased a new stake in Monster Beverage in the 4th quarter valued at $36,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Up 0.8%

Shares of NASDAQ:MNST opened at $93.78 on Wednesday. The company has a market cap of $91.72 billion, a P/E ratio of 45.30, a PEG ratio of 3.06 and a beta of 0.54. Monster Beverage Corporation has a 52 week low of $58.09 and a 52 week high of $94.88. The company has a 50-day moving average price of $84.73 and a 200 day moving average price of $80.16.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. Analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage declared that its board has authorized a share buyback program on Friday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

MNST has been the topic of several research reports. Argus raised their price objective on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Stifel Nicolaus dropped their target price on Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Piper Sandler upped their price target on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.35.

Insiders Place Their Bets

In related news, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the sale, the director directly owned 299,246 shares in the company, valued at $25,678,299.26. The trade was a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Emelie Tirre sold 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.74, for a total value of $857,400.00. Following the transaction, the insider directly owned 71,763 shares in the company, valued at $6,152,959.62. This represents a 12.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 178,700 shares of company stock valued at $15,457,562 over the last 90 days. 8.10% of the stock is owned by corporate insiders.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.