PNC Financial Services Group Inc. Has $11.13 Million Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

PNC Financial Services Group Inc. raised its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,809 shares of the company’s stock after purchasing an additional 1,762 shares during the period. PNC Financial Services Group Inc.’s holdings in Monster Beverage were worth $11,133,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MNST. Banco Santander S.A. raised its holdings in shares of Monster Beverage by 1.9% during the 4th quarter. Banco Santander S.A. now owns 216,891 shares of the company’s stock worth $11,400,000 after buying an additional 4,122 shares in the last quarter. Machina Capital S.A.S. bought a new position in Monster Beverage in the fourth quarter valued at about $389,000. Callan Family Office LLC acquired a new position in Monster Beverage during the fourth quarter worth about $351,000. Hartford Funds Management Co LLC lifted its holdings in shares of Monster Beverage by 7.9% in the fourth quarter. Hartford Funds Management Co LLC now owns 7,258 shares of the company’s stock worth $381,000 after acquiring an additional 531 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Monster Beverage by 20.5% in the 4th quarter. E Fund Management Co. Ltd. now owns 24,043 shares of the company’s stock valued at $1,264,000 after purchasing an additional 4,083 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $52.65, for a total transaction of $526,500.00. Following the transaction, the chief financial officer now owns 74,924 shares in the company, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emelie Tirre sold 91,316 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the transaction, the insider now directly owns 76,201 shares in the company, valued at $4,220,011.38. This trade represents a 54.51 % decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $55.23 on Wednesday. The company has a market capitalization of $53.75 billion, a PE ratio of 35.40, a P/E/G ratio of 2.28 and a beta of 0.71. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The firm has a fifty day simple moving average of $50.67 and a 200 day simple moving average of $51.63.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The business 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%. On average, sell-side analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MNST. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Morgan Stanley upped their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their target price on Monster Beverage from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Finally, Argus increased their target price on Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.83.

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.