Vident Investment Advisory LLC boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,112 shares of the company’s stock after acquiring an additional 833 shares during the period. Vident Investment Advisory LLC’s holdings in Monster Beverage were worth $1,336,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Monster Beverage by 0.9% in the 4th quarter. BlackRock Inc. now owns 22,739,399 shares of the company’s stock valued at $1,439,179,000 after purchasing an additional 196,998 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Monster Beverage by 8.9% in the 4th quarter. Jennison Associates LLC now owns 13,126,248 shares of the company’s stock valued at $830,760,000 after purchasing an additional 1,072,773 shares during the last quarter. Bank of New York Mellon Corp increased 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 purchasing an additional 175,132 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Monster Beverage by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,685,545 shares of the company’s stock valued at $295,978,000 after purchasing an additional 102,004 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Monster Beverage by 4.3% in the 4th quarter. Wells Fargo & Company MN now owns 3,446,881 shares of the company’s stock valued at $218,154,000 after purchasing an additional 140,785 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.
Several brokerages have recently issued reports on MNST. BidaskClub upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Susquehanna Bancshares reiterated a “sell” rating and issued a $56.00 price target on shares of Monster Beverage in a research note on Thursday, January 18th. Cowen reiterated a “buy” rating and issued a $77.00 price target on shares of Monster Beverage in a research note on Monday, January 22nd. BMO Capital Markets lifted their price target on Monster Beverage to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $65.29.
In related news, Chairman Rodney C. Sacks sold 189,861 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total transaction of $12,135,915.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rodney C. Sacks sold 697 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total value of $44,963.47. Following the sale, the chief executive officer now directly owns 963,789 shares in the company, valued at approximately $62,174,028.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 323,796 shares of company stock worth $20,407,966. 9.40% of the stock is currently owned by company insiders.
Shares of MNST stock opened at $58.68 on Wednesday. Monster Beverage Co. has a twelve month low of $44.35 and a twelve month high of $70.21. The firm has a market capitalization of $33,004.29, a price-to-earnings ratio of 41.03, a P/E/G ratio of 1.77 and a beta of 1.14.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Monster Beverage had a net margin of 24.36% and a return on equity of 22.54%. The firm had revenue of $810.40 million for the quarter, compared to analyst estimates of $841.25 million. During the same period last year, the business earned $0.30 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. equities research analysts anticipate that Monster Beverage Co. will post 1.78 earnings per share for the current year.
Monster Beverage declared that its Board of Directors has approved a stock buyback program on Thursday, March 1st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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About Monster Beverage
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.
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