Candriam Luxembourg S.C.A. boosted its stake in Monster Beverage (NASDAQ:MNST) by 227.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,691 shares of the company’s stock after buying an additional 58,828 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Monster Beverage were worth $4,845,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Shell Asset Management Co. purchased a new position in Monster Beverage in the 4th quarter valued at about $7,173,000. Rhumbline Advisers lifted its stake in Monster Beverage by 4.4% in the 4th quarter. Rhumbline Advisers now owns 715,251 shares of the company’s stock worth $45,268,000 after purchasing an additional 30,073 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 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 worth $399,200,000 after purchasing an additional 175,132 shares in the last quarter. Virtu Financial LLC purchased a new position in Monster Beverage in the 4th quarter worth approximately $1,756,000. Finally, Wells Fargo & Company MN lifted its stake in Monster Beverage by 4.3% in the 4th quarter. Wells Fargo & Company MN now owns 3,446,881 shares of the company’s stock worth $218,154,000 after purchasing an additional 140,785 shares in the last quarter. 65.66% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Mark J. Hall sold 33,000 shares of the firm’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 sale, the director now owns 791,808 shares in the company, valued at approximately $46,011,962.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas J. Kelly sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $58.31, for a total transaction of $874,650.00. Following the sale, the vice president now owns 9,651 shares of the company’s stock, valued at approximately $562,749.81. The disclosure for this sale can be found here. Insiders have sold a total of 55,770 shares of company stock valued at $3,228,099 in the last 90 days. Insiders own 9.70% of the company’s stock.
Shares of Monster Beverage opened at $49.66 on Friday, according to Marketbeat.com. The company has a market cap of $28.14 billion, a PE ratio of 34.01, a PEG ratio of 1.83 and a beta of 1.24. Monster Beverage has a 1 year low of $47.61 and a 1 year high of $70.21.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business had revenue of $850.92 million during the quarter, compared to the consensus estimate of $845.88 million. Monster Beverage had a net margin of 24.69% and a return on equity of 22.88%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. research analysts forecast that Monster Beverage will post 1.71 earnings per share for the current fiscal year.
Monster Beverage announced that its board has authorized a stock buyback 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 a sign that the company’s board believes its shares are undervalued.
A number of research analysts have weighed in on MNST shares. Stifel Nicolaus decreased their target price on shares of Monster Beverage from $73.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, March 1st. Citigroup set a $70.00 target price on shares of Monster Beverage and gave the stock a “buy” rating in a research note on Monday, March 5th. Deutsche Bank raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Monday, March 5th. Jefferies Group decreased their target price on shares of Monster Beverage to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, May 9th. Finally, Zacks Investment Research raised shares of Monster Beverage from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.82.
Monster Beverage Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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