Lindbrook Capital LLC Boosts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Lindbrook Capital LLC grew its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 83.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,608 shares of the company’s stock after acquiring an additional 1,186 shares during the period. Lindbrook Capital LLC’s holdings in Monster Beverage were worth $150,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MNST. Wellington Management Group LLP lifted its position in shares of Monster Beverage by 20.3% during the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after acquiring an additional 3,296,466 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Monster Beverage by 61.5% during the third quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company’s stock worth $181,713,000 after acquiring an additional 1,307,482 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Monster Beverage by 33.5% during the third quarter. American Century Companies Inc. now owns 3,782,074 shares of the company’s stock worth $200,261,000 after acquiring an additional 948,133 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Monster Beverage by 32.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,823,265 shares of the company’s stock worth $149,492,000 after acquiring an additional 686,889 shares in the last quarter. Finally, ING Groep NV lifted its position in shares of Monster Beverage by 78.2% during the third quarter. ING Groep NV now owns 1,230,778 shares of the company’s stock worth $65,170,000 after acquiring an additional 540,285 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.2 %

Shares of NASDAQ:MNST opened at $53.73 on Wednesday. The stock’s 50-day moving average price is $57.09 and its 200-day moving average price is $55.60. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22. The stock has a market capitalization of $55.91 billion, a P/E ratio of 34.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Monster Beverage Co. will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MNST. HSBC lowered their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. JPMorgan Chase & Co. increased their price objective on Monster Beverage from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Citigroup increased their price objective on Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Morgan Stanley increased their price objective on Monster Beverage from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.11.

Insider Buying and Selling

In related news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares of the company’s stock, valued at $45,542,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.40% of the stock is 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.