Envestnet Asset Management Inc. raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 43.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 142,799 shares of the company’s stock after buying an additional 43,107 shares during the period. Envestnet Asset Management Inc.’s holdings in Monster Beverage were worth $6,594,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mason Street Advisors LLC boosted its position in Monster Beverage by 0.3% in the first quarter. Mason Street Advisors LLC now owns 55,595 shares of the company’s stock valued at $2,567,000 after buying an additional 139 shares during the period. Ameritas Investment Partners Inc. boosted its position in Monster Beverage by 4.0% in the first quarter. Ameritas Investment Partners Inc. now owns 74,983 shares of the company’s stock valued at $3,461,000 after buying an additional 2,901 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Monster Beverage by 54.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 48,098 shares of the company’s stock valued at $2,221,000 after buying an additional 17,037 shares during the period. Baird Financial Group Inc. boosted its position in Monster Beverage by 817.2% in the first quarter. Baird Financial Group Inc. now owns 60,712 shares of the company’s stock valued at $2,803,000 after buying an additional 54,093 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Monster Beverage by 74.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 81,322 shares of the company’s stock valued at $3,755,000 after buying an additional 34,771 shares during the period. 28.01% of the stock is currently owned by institutional investors and hedge funds.

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

Monster Beverage Co. (NASDAQ:MNST) traded up 0.93% during midday trading on Wednesday, hitting $49.89. The stock had a trading volume of 2,329,697 shares. The firm has a 50-day moving average of $46.25 and a 200 day moving average of $44.93. Monster Beverage Co. has a 52-week low of $40.64 and a 52-week high of $55.50. The firm has a market capitalization of $28.33 billion, a P/E ratio of 40.17 and a beta of 0.77.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $742.10 million during the quarter, compared to the consensus estimate of $738.54 million. Monster Beverage had a net margin of 23.07% and a return on equity of 17.06%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities analysts forecast that Monster Beverage Co. will post $1.48 EPS for the current year.

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Several research firms recently issued reports on MNST. Vetr raised Monster Beverage from a “buy” rating to a “strong-buy” rating and set a $52.90 price objective on the stock in a research report on Wednesday, May 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Monster Beverage in a research report on Monday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $58.00 price objective on shares of Monster Beverage in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Monster Beverage in a research report on Monday, May 15th. Finally, Goldman Sachs Group Inc upped their price objective on Monster Beverage from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Monster Beverage has an average rating of “Buy” and an average target price of $56.49.

In related news, insider Mark J. Hall sold 93,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $46.12, for a total transaction of $4,289,160.00. Following the completion of the transaction, the insider now directly owns 866,808 shares in the company, valued at $39,977,184.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold C. Taber, Jr. sold 15,000 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $47.08, for a total transaction of $706,200.00. Following the transaction, the director now owns 70,001 shares of the company’s stock, valued at $3,295,647.08. The disclosure for this sale can be found here. Insiders have sold 595,500 shares of company stock valued at $27,586,110 over the last 90 days. 9.20% of the stock is currently owned by insiders.

Monster Beverage Company Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

12 Month Chart for NASDAQ:MNST

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