Harvest Fund Management Co. Ltd Buys 900 Shares of Monster Beverage Co. (NASDAQ:MNST)

Harvest Fund Management Co. Ltd grew its position in Monster Beverage Co. (NASDAQ:MNST) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,268 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Monster Beverage were worth $590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MNST. CWM LLC increased its position in Monster Beverage by 7.9% during the third quarter. CWM LLC now owns 13,220 shares of the company’s stock worth $700,000 after acquiring an additional 965 shares during the period. DAVENPORT & Co LLC raised its holdings in Monster Beverage by 14.0% in the 3rd quarter. DAVENPORT & Co LLC now owns 5,945 shares of the company’s stock valued at $315,000 after acquiring an additional 729 shares in the last quarter. KFG Wealth Management LLC grew its holdings in shares of Monster Beverage by 15.2% during the 3rd quarter. KFG Wealth Management LLC now owns 7,412 shares of the company’s stock worth $392,000 after purchasing an additional 978 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Monster Beverage by 101.6% in the third quarter. Exchange Traded Concepts LLC now owns 18,384 shares of the company’s stock valued at $973,000 after purchasing an additional 9,264 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Monster Beverage by 5.4% in the 3rd quarter. Proficio Capital Partners LLC now owns 5,541 shares of the company’s stock valued at $293,000 after buying an additional 284 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MNST shares. BMO Capital Markets increased their target price on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, February 26th. HSBC dropped their target price on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Finally, Jefferies Financial Group increased their price objective on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.11.

Monster Beverage Stock Up 1.1 %

Shares of MNST traded up $0.60 on Wednesday, hitting $54.33. The company’s stock had a trading volume of 6,843,393 shares, compared to its average volume of 5,376,611. The firm has a market capitalization of $56.54 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 2.19 and a beta of 0.72. The firm’s fifty day moving average price is $57.09 and its 200-day moving average price is $55.60. Monster Beverage Co. has a fifty-two week low of $47.13 and a fifty-two week high of $61.22.

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

Insider Activity

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction that occurred on 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 owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.40% of the company’s stock.

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.