Dock Street Asset Management Inc. Has $17.02 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

Dock Street Asset Management Inc. increased its stake in Monster Beverage Co. (NASDAQ:MNST) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,461 shares of the company’s stock after buying an additional 13,629 shares during the quarter. Monster Beverage makes up 2.7% of Dock Street Asset Management Inc.’s holdings, making the stock its 15th biggest position. Dock Street Asset Management Inc.’s holdings in Monster Beverage were worth $17,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MNST. State Street Corp raised its stake in Monster Beverage by 98.4% in the 1st quarter. State Street Corp now owns 34,001,871 shares of the company’s stock valued at $1,836,434,000 after acquiring an additional 16,863,544 shares during the period. Geode Capital Management LLC raised its stake in Monster Beverage by 103.0% in the 1st quarter. Geode Capital Management LLC now owns 14,361,510 shares of the company’s stock valued at $773,729,000 after acquiring an additional 7,287,123 shares during the period. Norges Bank bought a new stake in Monster Beverage in the 4th quarter valued at $363,374,000. Wellington Management Group LLP raised its stake in Monster Beverage by 20.3% in the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after acquiring an additional 3,296,466 shares during the period. Finally, Barclays PLC raised its stake in Monster Beverage by 32.8% in the 2nd quarter. Barclays PLC now owns 9,747,630 shares of the company’s stock valued at $559,905,000 after acquiring an additional 2,407,774 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Redburn Atlantic assumed coverage on Monster Beverage in a research note on Wednesday, March 6th. They issued a “buy” rating on the stock. HSBC lowered their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. The Goldman Sachs Group increased their price objective on Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Morgan Stanley increased their price objective on Monster Beverage from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.11.

Monster Beverage Trading Down 1.0 %

Shares of NASDAQ:MNST traded down $0.56 during mid-day trading on Thursday, hitting $53.69. 1,331,282 shares of the company traded hands, compared to its average volume of 5,252,867. The stock has a 50-day moving average price of $57.30 and a two-hundred day moving average price of $55.50. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22. The stock has a market cap of $55.87 billion, a P/E ratio of 35.00, a P/E/G ratio of 2.13 and a beta of 0.72.

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

Insiders Place Their Bets

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

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.