Summit Investment Advisors Inc. Raises Position in Monster Beverage Co. (NASDAQ:MNST)

Summit Investment Advisors Inc. increased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 40,014 shares of the company’s stock after purchasing an additional 1,070 shares during the period. Summit Investment Advisors Inc.’s holdings in Monster Beverage were worth $2,103,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 203 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Monster Beverage during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Monster Beverage during the fourth quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Monster Beverage in the 4th quarter valued at $31,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Monster Beverage during the 4th quarter worth about $33,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on MNST. Deutsche Bank Aktiengesellschaft lifted their target price on Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Monster Beverage in a research note on Friday, February 28th. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 target price on shares of Monster Beverage in a report on Wednesday, January 22nd. Wells Fargo & Company upped their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.44.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $58.58 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm has a fifty day moving average of $54.63 and a 200 day moving average of $52.97. The firm has a market cap of $57.01 billion, a PE ratio of 37.55, a PEG ratio of 2.28 and a beta of 0.64. Monster Beverage Co. has a one year low of $43.32 and a one year high of $60.34.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. As a group, research analysts predict that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the sale, the chief financial officer now owns 72,273 shares in the company, valued at approximately $3,994,528.71. This represents a 12.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark J. Hall sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the transaction, the director now owns 296,846 shares in the company, valued at approximately $16,178,107. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,316 shares of company stock valued at $11,484,440 over the last quarter. 7.80% of the stock is currently owned by insiders.

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.