Perigon Wealth Management LLC Increases Holdings in Monster Beverage Co. (NASDAQ:MNST)

Perigon Wealth Management LLC lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,494 shares of the company’s stock after purchasing an additional 483 shares during the quarter. Perigon Wealth Management LLC’s holdings in Monster Beverage were worth $1,065,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MNST. Sapient Capital LLC purchased a new position in Monster Beverage in the 4th quarter worth approximately $2,266,000. Janiczek Wealth Management LLC increased its stake in Monster Beverage by 40.6% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,809 shares of the company’s stock worth $104,000 after purchasing an additional 522 shares during the period. Cerity Partners LLC increased its stake in Monster Beverage by 2.8% in the 4th quarter. Cerity Partners LLC now owns 525,385 shares of the company’s stock worth $30,268,000 after purchasing an additional 14,495 shares during the period. Leeward Financial Partners LLC increased its stake in Monster Beverage by 5.0% in the 4th quarter. Leeward Financial Partners LLC now owns 9,294 shares of the company’s stock worth $535,000 after purchasing an additional 446 shares during the period. Finally, Executive Wealth Management LLC increased its stake in Monster Beverage by 15.0% in the 4th quarter. Executive Wealth Management LLC now owns 39,221 shares of the company’s stock worth $2,260,000 after purchasing an additional 5,107 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MNST. JPMorgan Chase & Co. lifted their price target on Monster Beverage from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. HSBC reduced their target price on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Morgan Stanley boosted their target price on Monster Beverage from $63.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. BMO Capital Markets boosted their target price on Monster Beverage from $57.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, January 17th. Finally, Citigroup boosted their target price on Monster Beverage from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.11.

Monster Beverage Trading Up 0.5 %

Monster Beverage stock opened at $55.01 on Friday. The business’s fifty day simple moving average is $57.40 and its two-hundred day simple moving average is $55.48. Monster Beverage Co. has a 12 month low of $47.13 and a 12 month high of $61.22. The company has a market capitalization of $57.25 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts predict that Monster Beverage Co. will post 1.81 EPS for the current year.

Insiders Place Their Bets

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

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.