Trueblood Wealth Management LLC Invests $202,000 in Monster Beverage Co. (NASDAQ:MNST)

Trueblood Wealth Management LLC bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,506 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds also recently modified their holdings of 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 worth $1,836,434,000 after purchasing an additional 16,863,544 shares in the last quarter. 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 worth $773,729,000 after purchasing an additional 7,287,123 shares in the last quarter. Norges Bank acquired a new stake in Monster Beverage in the 4th quarter worth about $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 worth $1,033,323,000 after purchasing an additional 3,296,466 shares in the last quarter. 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 worth $559,905,000 after purchasing an additional 2,407,774 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.1 %

Monster Beverage stock opened at $59.28 on Friday. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22. The firm’s fifty day moving average is $57.24 and its 200 day moving average is $55.42. The company has a market capitalization of $61.69 billion, a PE ratio of 38.25, a PEG ratio of 2.29 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company earned $0.28 EPS. Monster Beverage’s quarterly revenue was up 14.4% compared to the same quarter last year. Sell-side analysts expect that Monster Beverage Co. will post 1.81 EPS for the current fiscal year.

Insider Activity at Monster Beverage

In other Monster Beverage 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 transaction of $38,584,450.00. Following the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, January 17th. Jefferies Financial Group boosted their target price on shares of Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. UBS Group boosted their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley lifted their price target on shares of Monster Beverage from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.55.

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.