Castleark Management LLC Trims Position in Monster Beverage Co. (NASDAQ:MNST)

Castleark Management LLC cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517,832 shares of the company’s stock after selling 27,295 shares during the period. Monster Beverage makes up 1.0% of Castleark Management LLC’s holdings, making the stock its 21st biggest holding. Castleark Management LLC owned 0.09% of Monster Beverage worth $32,774,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Legal & General Group Plc raised its stake in shares of Monster Beverage by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 1,908,956 shares of the company’s stock valued at $105,470,000 after acquiring an additional 19,059 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $7,173,000. Rhumbline Advisers raised its stake in shares of Monster Beverage by 4.4% in the 4th quarter. Rhumbline Advisers now owns 715,251 shares of the company’s stock valued at $45,268,000 after acquiring an additional 30,073 shares during the period. Iberiabank Corp raised its stake in shares of Monster Beverage by 58.3% in the 3rd quarter. Iberiabank Corp now owns 18,385 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6,774 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Monster Beverage by 2.9% in the 4th quarter. Bank of New York Mellon Corp now owns 6,307,457 shares of the company’s stock valued at $399,200,000 after acquiring an additional 175,132 shares during the period. 65.42% of the stock is currently owned by institutional investors.

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In other Monster Beverage news, Director Mark J. Hall sold 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $58.11, for a total transaction of $1,917,630.00. Following the completion of the transaction, the director now owns 791,808 shares in the company, valued at approximately $46,011,962.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Norman Epstein sold 7,770 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $56.09, for a total transaction of $435,819.30. Following the completion of the transaction, the director now owns 14,280 shares of the company’s stock, valued at approximately $800,965.20. The disclosure for this sale can be found here. Insiders have sold a total of 132,139 shares of company stock valued at $8,156,191 in the last quarter. 9.40% of the stock is currently owned by company insiders.

NASDAQ MNST traded down $1.48 on Friday, hitting $55.93. 3,110,829 shares of the stock were exchanged, compared to its average volume of 2,892,435. Monster Beverage Co. has a fifty-two week low of $44.35 and a fifty-two week high of $70.21. The stock has a market capitalization of $32,517.19, a PE ratio of 38.31, a price-to-earnings-growth ratio of 1.74 and a beta of 1.26.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Monster Beverage had a return on equity of 22.54% and a net margin of 24.36%. The firm had revenue of $810.40 million for the quarter, compared to analyst estimates of $841.25 million. During the same quarter last year, the firm earned $0.30 EPS. The company’s revenue was up 7.5% on a year-over-year basis. sell-side analysts predict that Monster Beverage Co. will post 1.78 earnings per share for the current year.

Monster Beverage declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 1st that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

MNST has been the topic of a number of research analyst reports. Deutsche Bank initiated coverage on shares of Monster Beverage in a research note on Wednesday, December 13th. They issued a “hold” rating and a $66.00 price target on the stock. Susquehanna Bancshares reaffirmed a “sell” rating and set a $56.00 target price on shares of Monster Beverage in a research note on Thursday, January 18th. Cowen reaffirmed a “buy” rating and set a $77.00 target price on shares of Monster Beverage in a research note on Monday, January 22nd. Macquarie upped their target price on shares of Monster Beverage from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 21st. Finally, BidaskClub downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Monster Beverage currently has an average rating of “Buy” and an average price target of $65.87.

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Monster Beverage Company Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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