Axxcess Wealth Management LLC Increases Position in Monster Beverage Co. (NASDAQ:MNST)

Axxcess Wealth Management LLC increased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,619 shares of the company’s stock after buying an additional 2,218 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Monster Beverage were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its position in Monster Beverage by 34.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock worth $1,421,000 after purchasing an additional 6,946 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Monster Beverage by 225.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 84,276 shares of the company’s stock worth $4,462,000 after purchasing an additional 58,360 shares during the period. Pinnacle Associates Ltd. grew its position in Monster Beverage by 43.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 6,639 shares of the company’s stock worth $352,000 after purchasing an additional 2,000 shares during the period. Stratos Wealth Partners LTD. grew its position in Monster Beverage by 17.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,071 shares of the company’s stock worth $586,000 after purchasing an additional 1,613 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Monster Beverage by 14.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 313,863 shares of the company’s stock worth $16,619,000 after purchasing an additional 38,822 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the sale, the director now directly owns 777,840 shares of the company’s stock, valued at $45,542,532. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the topic of several analyst reports. Stifel Nicolaus cut their price target on Monster Beverage from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada increased their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Citigroup increased their price objective 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. Finally, Morgan Stanley cut their price target on shares of Monster Beverage from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Trading Up 3.0 %

Monster Beverage stock opened at $55.00 on Monday. The stock has a market cap of $57.30 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74. The company has a fifty day simple moving average of $56.84 and a 200-day simple moving average of $55.86. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22.

Monster Beverage (NASDAQ:MNST) last released 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%. Monster Beverage’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. As a group, sell-side analysts forecast that Monster Beverage Co. will post 1.79 earnings per share for the current fiscal year.

Monster Beverage 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.