Rockefeller Capital Management L.P. Grows Holdings in Monster Beverage Corporation $MNST

Rockefeller Capital Management L.P. raised its position in Monster Beverage Corporation (NASDAQ:MNST) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186,276 shares of the company’s stock after buying an additional 33,395 shares during the period. Rockefeller Capital Management L.P.’s holdings in Monster Beverage were worth $11,668,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MNST. OMNI 360 Wealth Inc. purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at $365,000. Avior Wealth Management LLC boosted its holdings in shares of Monster Beverage by 35.3% in the 2nd quarter. Avior Wealth Management LLC now owns 22,146 shares of the company’s stock worth $1,387,000 after buying an additional 5,781 shares during the last quarter. Profund Advisors LLC grew its position in Monster Beverage by 10.1% during the second quarter. Profund Advisors LLC now owns 82,553 shares of the company’s stock valued at $5,171,000 after buying an additional 7,606 shares during the period. Nordea Investment Management AB increased its holdings in Monster Beverage by 1.1% during the second quarter. Nordea Investment Management AB now owns 2,191,598 shares of the company’s stock worth $136,054,000 after buying an additional 22,960 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in Monster Beverage by 1.1% in the second quarter. Chevy Chase Trust Holdings LLC now owns 450,840 shares of the company’s stock worth $28,241,000 after acquiring an additional 5,118 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $72.30 on Thursday. The stock has a market capitalization of $70.64 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.31 and a beta of 0.53. The company’s fifty day simple moving average is $67.95 and its two-hundred day simple moving average is $64.15. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $73.07.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.During the same period last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insiders Place Their Bets

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the completion of the transaction, the insider owned 21,993 shares of the company’s stock, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. upped their price objective on Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Wells Fargo & Company increased their price objective on Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Bank of America boosted their target price on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Monster Beverage in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.62.

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.