Callan Family Office LLC Raises Holdings in Monster Beverage Corporation $MNST

Callan Family Office LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 159.1% during the second quarter, Holdings Channel reports. The institutional investor owned 16,902 shares of the company’s stock after acquiring an additional 10,378 shares during the quarter. Callan Family Office LLC’s holdings in Monster Beverage were worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MNST. Ashton Thomas Securities LLC raised its holdings in shares of Monster Beverage by 1.0% during the second quarter. Ashton Thomas Securities LLC now owns 16,986 shares of the company’s stock valued at $1,064,000 after acquiring an additional 174 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Monster Beverage by 4.0% in the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company’s stock valued at $286,000 after purchasing an additional 189 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Conning Inc. increased its holdings in shares of Monster Beverage by 3.9% in the first quarter. Conning Inc. now owns 5,853 shares of the company’s stock valued at $343,000 after purchasing an additional 219 shares during the last quarter. Finally, Eastern Bank increased its holdings in shares of Monster Beverage by 3.0% in the first quarter. Eastern Bank now owns 7,527 shares of the company’s stock valued at $440,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MNST has been the subject of several recent research reports. Bank of America increased their price target on Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Royal Bank Of Canada increased their price target on Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Friday. Wall Street Zen cut Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Citigroup reaffirmed a “buy” rating and issued a $79.00 price target (up previously from $76.00) on shares of Monster Beverage in a report on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.05.

Monster Beverage Stock Up 0.9%

MNST stock opened at $69.62 on Monday. The business has a fifty day moving average of $64.31 and a two-hundred day moving average of $62.01. The stock has a market cap of $67.98 billion, a price-to-earnings ratio of 43.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $70.06.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 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.