SVB Wealth LLC Has $5.17 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

SVB Wealth LLC raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 21.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 89,815 shares of the company’s stock after buying an additional 15,598 shares during the period. SVB Wealth LLC’s holdings in Monster Beverage were worth $5,174,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Freedom Wealth Alliance LLC purchased a new position in shares of Monster Beverage in the 4th quarter worth approximately $25,000. Peoples Bank KS purchased a new position in shares of Monster Beverage in the 3rd quarter worth approximately $26,000. Resurgent Financial Advisors LLC purchased a new position in shares of Monster Beverage in the 4th quarter worth approximately $26,000. Ancora Advisors LLC purchased a new position in shares of Monster Beverage in the 1st quarter worth approximately $27,000. Finally, Quarry LP boosted its stake in shares of Monster Beverage by 276.1% in the 1st quarter. Quarry LP now owns 504 shares of the company’s stock worth $27,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Monster Beverage from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, January 17th. HSBC lowered their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Jefferies Financial Group lifted their price target on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Redburn Atlantic initiated coverage on shares of Monster Beverage in a report on Wednesday, March 6th. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, February 26th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $63.11.

Monster Beverage Stock Performance

Monster Beverage stock opened at $54.69 on Wednesday. The stock has a market cap of $56.91 billion, a P/E ratio of 35.28, a PEG ratio of 2.09 and a beta of 0.72. Monster Beverage Co. has a fifty-two week low of $47.13 and a fifty-two week high of $61.22. The firm’s fifty day moving average price is $57.34 and its 200-day moving average price is $55.51.

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

Insider Buying and Selling

In related news, Director Mark J. Hall sold 659,000 shares of the company’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 transaction, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.40% of the stock is owned by company insiders.

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.