Rockefeller Capital Management L.P. Purchases 33,395 Shares of Monster Beverage Corporation $MNST

Rockefeller Capital Management L.P. increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 21.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 186,276 shares of the company’s stock after buying an additional 33,395 shares during the period. Rockefeller Capital Management L.P.’s holdings in Monster Beverage were worth $11,668,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MNST. Access Investment Management LLC bought a new position in Monster Beverage in the 2nd quarter worth about $25,000. Salomon & Ludwin LLC bought a new stake in shares of Monster Beverage during the 2nd quarter valued at about $28,000. Golden State Wealth Management LLC grew its holdings in shares of Monster Beverage by 647.3% during the second quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock worth $35,000 after purchasing an additional 479 shares in the last quarter. Webster Bank N. A. bought a new position in shares of Monster Beverage in the second quarter worth approximately $38,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the first quarter worth approximately $43,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $72.30 on Thursday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $73.07. The firm has a market cap of $70.64 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.31 and a beta of 0.53. The firm has a 50 day moving average price of $67.95 and a 200-day moving average price of $64.15.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Royal Bank Of Canada restated an “outperform” rating on shares of Monster Beverage in a research report on Thursday, November 6th. Bank of America lifted their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Evercore ISI upped their target price on shares of Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Monster Beverage in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.62.

Insider Activity at Monster Beverage

In other news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. The trade was a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Company 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.