Castleark Management LLC Acquires 231,489 Shares of Monster Beverage Co. (MNST)
Castleark Management LLC boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 63.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,595 shares of the company’s stock after buying an additional 231,489 shares during the period. Monster Beverage comprises 1.0% of Castleark Management LLC’s portfolio, making the stock its 22nd largest holding. Castleark Management LLC owned approximately 0.11% of Monster Beverage worth $29,738,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of MNST. BlackRock Inc. boosted its stake in Monster Beverage by 1,887.5% during the first quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock worth $995,459,000 after buying an additional 20,475,879 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Monster Beverage by 297.8% during the first quarter. Renaissance Technologies LLC now owns 1,804,200 shares of the company’s stock worth $83,300,000 after buying an additional 1,350,700 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in Monster Beverage by 6,737.7% during the second quarter. Harbour Capital Advisors LLC now owns 890,266 shares of the company’s stock worth $17,920,000 after buying an additional 877,246 shares in the last quarter. Vanguard Group Inc. boosted its stake in Monster Beverage by 3.0% during the first quarter. Vanguard Group Inc. now owns 27,660,996 shares of the company’s stock worth $1,277,108,000 after buying an additional 799,703 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Monster Beverage by 186.2% during the second quarter. Nationwide Fund Advisors now owns 1,175,384 shares of the company’s stock worth $58,393,000 after buying an additional 764,665 shares in the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.
Monster Beverage Co. (NASDAQ MNST) traded up 0.78% on Wednesday, hitting $55.79. The company had a trading volume of 409,542 shares. The firm has a 50-day moving average price of $55.71 and a 200-day moving average price of $51.10. The firm has a market capitalization of $31.70 billion, a PE ratio of 42.27 and a beta of 1.02. Monster Beverage Co. has a 12-month low of $40.64 and a 12-month high of $57.25.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $907.07 million during the quarter, compared to analyst estimates of $901.38 million. Monster Beverage had a net margin of 23.98% and a return on equity of 22.96%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that Monster Beverage Co. will post $1.48 earnings per share for the current fiscal year.
Several brokerages have recently commented on MNST. UBS AG set a $59.00 target price on shares of Monster Beverage and gave the company a “buy” rating in a research note on Wednesday, June 21st. Jefferies Group LLC boosted their target price on shares of Monster Beverage from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and issued a $57.00 target price on shares of Monster Beverage in a research note on Tuesday, June 20th. Cowen and Company restated an “outperform” rating and issued a $58.00 target price on shares of Monster Beverage in a research note on Thursday, June 22nd. Finally, Zacks Investment Research upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, July 17th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $56.86.
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In related news, Director Sydney Selati sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the sale, the director now directly owns 52,000 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.40% of the company’s stock.
About Monster Beverage
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.
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