HB Wealth Management LLC Sells 1,316 Shares of Monster Beverage Co. (NASDAQ:MNST)

HB Wealth Management LLC lowered its holdings in Monster Beverage Co. (NASDAQ:MNST) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,833 shares of the company’s stock after selling 1,316 shares during the period. HB Wealth Management LLC’s holdings in Monster Beverage were worth $509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Freedom Wealth Alliance LLC bought a new stake in Monster Beverage during the 4th quarter worth approximately $25,000. Resurgent Financial Advisors LLC purchased a new position in Monster Beverage in the 4th quarter worth approximately $26,000. Ancora Advisors LLC purchased a new position in Monster Beverage in the 1st quarter worth approximately $27,000. Peoples Bank KS purchased a new position in Monster Beverage in the 3rd quarter worth approximately $26,000. Finally, Quarry LP grew its stake in 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 in the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of research reports. Redburn Atlantic initiated coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of Monster Beverage from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Morgan Stanley upped their price objective 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. Royal Bank of Canada upped their price objective on shares of Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, HSBC cut their price objective on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.55.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $59.20 on Thursday. The company has a 50-day moving average of $57.20 and a 200 day moving average of $55.39. The firm has a market cap of $61.61 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.28 and a beta of 0.72. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last issued its quarterly 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. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. Monster Beverage’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. On average, equities analysts anticipate that Monster Beverage Co. will post 1.81 EPS for the current year.

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.