Procyon Advisors LLC Has $4.21 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

Procyon Advisors LLC cut its stake in Monster Beverage Co. (NASDAQ:MNST) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

A number of other hedge funds have also modified their holdings of the stock. Freedom Wealth Alliance LLC bought a new position in Monster Beverage during the 4th quarter valued at about $25,000. Peoples Bank KS bought a new position in Monster Beverage during the 3rd quarter valued at about $26,000. Resurgent Financial Advisors LLC bought a new position in Monster Beverage during the 4th quarter valued at about $26,000. Ancora Advisors LLC acquired a new position in Monster Beverage in the first quarter worth $27,000. Finally, Quarry LP boosted its stake in Monster Beverage by 276.1% in the first quarter. Quarry LP now owns 504 shares of the company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MNST shares. UBS Group boosted their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. HSBC reduced their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. Morgan Stanley increased their price target on shares of Monster Beverage from $63.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Citigroup increased their price target on shares of Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.55.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the transaction, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.40% of the stock is currently owned by corporate insiders.

Monster Beverage Trading Up 0.4 %

Shares of 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 cap of $61.87 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.29 and a beta of 0.72. The firm has a 50 day simple moving average of $57.20 and a two-hundred day simple moving average of $55.39. Monster Beverage Co. has a twelve month low of $47.13 and a twelve month high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $1.73 billion for 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%. Monster Beverage’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. On average, equities analysts anticipate that Monster Beverage Co. will post 1.81 EPS for the current fiscal year.

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.