Knuff & Co LLC Has $3.49 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Knuff & Co LLC reduced its stake in Monster Beverage Co. (NASDAQ:MNSTGet Rating) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,149 shares of the company’s stock after selling 200 shares during the period. Monster Beverage accounts for approximately 1.7% of Knuff & Co LLC’s investment portfolio, making the stock its 18th biggest position. Knuff & Co LLC’s holdings in Monster Beverage were worth $3,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 30,005,150 shares of the company’s stock valued at $2,397,411,000 after purchasing an additional 504,239 shares during the last quarter. FMR LLC increased its holdings in shares of Monster Beverage by 6.4% in the second quarter. FMR LLC now owns 27,494,943 shares of the company’s stock valued at $2,548,782,000 after purchasing an additional 1,654,974 shares during the last quarter. State Street Corp increased its holdings in shares of Monster Beverage by 2.4% in the first quarter. State Street Corp now owns 17,029,815 shares of the company’s stock valued at $1,360,682,000 after purchasing an additional 391,417 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Monster Beverage by 293.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,100,259 shares of the company’s stock valued at $936,294,000 after purchasing an additional 7,530,547 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Monster Beverage by 10.0% in the first quarter. Clearbridge Investments LLC now owns 10,071,948 shares of the company’s stock valued at $804,749,000 after acquiring an additional 912,942 shares during the period. 75.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Monster Beverage news, insider Guy Carling sold 36,250 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $97.66, for a total transaction of $3,540,175.00. Following the completion of the transaction, the insider now owns 25,901 shares of the company’s stock, valued at $2,529,491.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Guy Carling sold 36,250 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $97.66, for a total value of $3,540,175.00. Following the completion of the transaction, the insider now owns 25,901 shares of the company’s stock, valued at $2,529,491.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emelie Tirre sold 74,998 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $98.96, for a total value of $7,421,802.08. Following the completion of the transaction, the insider now directly owns 21,038 shares of the company’s stock, valued at approximately $2,081,920.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,504 shares of company stock valued at $12,217,237. 10.50% of the stock is currently owned by corporate insiders.

Monster Beverage Trading Up 2.9 %

Shares of NASDAQ MNST opened at $103.02 on Wednesday. The company has a market cap of $53.75 billion, a price-to-earnings ratio of 45.58, a PEG ratio of 2.93 and a beta of 0.90. Monster Beverage Co. has a 12 month low of $71.78 and a 12 month high of $104.65. The stock has a 50-day moving average price of $101.40 and a two-hundred day moving average price of $95.30.

Monster Beverage (NASDAQ:MNSTGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.65 billion. Monster Beverage had a return on equity of 17.91% and a net margin of 19.46%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, sell-side analysts predict that Monster Beverage Co. will post 2.28 earnings per share for the current year.

Monster Beverage declared that its board has initiated a stock buyback plan on Thursday, November 3rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MNST. Morgan Stanley boosted their target price on shares of Monster Beverage from $109.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Bank of America boosted their target price on shares of Monster Beverage from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, November 4th. Argus boosted their target price on shares of Monster Beverage from $113.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, November 29th. Royal Bank of Canada boosted their target price on shares of Monster Beverage from $98.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, November 4th. Finally, Stifel Nicolaus boosted their target price on shares of Monster Beverage from $105.00 to $113.00 in a research report on Friday, December 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.67.

Monster Beverage Profile

(Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

See Also

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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