Procyon Advisors LLC Lowers Position in Monster Beverage Co. (NASDAQ:MNST)

Procyon Advisors LLC reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,131 shares of the company’s stock after selling 317 shares during the period. Procyon Advisors LLC’s holdings in Monster Beverage were worth $4,213,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. PFG Investments LLC grew its position in shares of Monster Beverage by 2.6% during the fourth quarter. PFG Investments LLC now owns 7,761 shares of the company’s stock worth $447,000 after buying an additional 199 shares in the last quarter. Schechter Investment Advisors LLC lifted its holdings in Monster Beverage by 12.6% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,645 shares of the company’s stock worth $440,000 after buying an additional 854 shares during the last quarter. Sendero Wealth Management LLC lifted its holdings in Monster Beverage by 26.9% during the 4th quarter. Sendero Wealth Management LLC now owns 33,823 shares of the company’s stock worth $1,949,000 after buying an additional 7,166 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Monster Beverage by 26.7% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 12,266 shares of the company’s stock worth $707,000 after buying an additional 2,586 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its holdings in Monster Beverage by 8.7% during the 4th quarter. Portside Wealth Group LLC now owns 10,522 shares of the company’s stock worth $606,000 after buying an additional 841 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

NASDAQ:MNST traded up $0.25 during mid-day trading on Thursday, reaching $59.45. The stock had a trading volume of 606,978 shares, compared to its average volume of 5,188,991. The firm has a market capitalization of $61.87 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.29 and a beta of 0.72. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22. The business has a 50 day simple moving average of $57.20 and a 200 day simple moving average of $55.39.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, sell-side analysts expect that Monster Beverage Co. will post 1.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value 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 SEC, which is accessible through this hyperlink. Insiders own 9.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MNST. Jefferies Financial Group lifted their price target on Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Citigroup upped their target price on shares of Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. BMO Capital Markets upped their target price on shares of Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, February 26th. Finally, Royal Bank of Canada raised their price target on Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.55.

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.