Calamos Wealth Management LLC lowered its stake in shares of Monster Beverage Corp (NASDAQ:MNST) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,599 shares of the company’s stock after selling 529 shares during the quarter. Calamos Wealth Management LLC’s holdings in Monster Beverage were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Monster Beverage by 77.2% during the fourth quarter. Millennium Management LLC now owns 1,978,687 shares of the company’s stock worth $97,391,000 after purchasing an additional 861,752 shares during the period. Norges Bank acquired a new stake in shares of Monster Beverage during the fourth quarter worth about $209,565,000. Kentucky Retirement Systems acquired a new stake in shares of Monster Beverage during the fourth quarter worth about $852,000. CIBC Asset Management Inc lifted its holdings in shares of Monster Beverage by 1.7% during the fourth quarter. CIBC Asset Management Inc now owns 68,872 shares of the company’s stock worth $3,390,000 after purchasing an additional 1,158 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Monster Beverage by 3.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 141,875 shares of the company’s stock worth $6,983,000 after purchasing an additional 4,670 shares during the period. 66.03% of the stock is owned by institutional investors and hedge funds.
MNST has been the subject of several recent research reports. Zacks Investment Research cut Monster Beverage from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine cut Monster Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. BidaskClub cut Monster Beverage from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Citigroup reiterated a “buy” rating and set a $72.00 price target on shares of Monster Beverage in a research report on Thursday, February 28th. Finally, Credit Suisse Group reduced their price target on Monster Beverage from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Monster Beverage currently has a consensus rating of “Hold” and a consensus target price of $62.03.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Monster Beverage had a return on equity of 26.96% and a net margin of 26.08%. The firm had revenue of $946.00 million during the quarter, compared to analysts’ expectations of $919.49 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts forecast that Monster Beverage Corp will post 2.01 EPS for the current fiscal year.
In related news, insider Emelie Tirre sold 24,762 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $62.97, for a total transaction of $1,559,263.14. Following the completion of the sale, the insider now directly owns 77,363 shares in the company, valued at $4,871,548.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harold C. Taber, Jr. sold 11,772 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.58, for a total value of $748,463.76. Following the sale, the director now owns 72,240 shares of the company’s stock, valued at $4,593,019.20. The disclosure for this sale can be found here. Insiders have sold 62,253 shares of company stock valued at $3,842,637 over the last quarter. 9.70% of the stock is owned by company insiders.
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About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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