JARISLOWSKY FRASER Ltd Has $72.33 Million Stake in Monster Beverage Corporation $MNST

JARISLOWSKY FRASER Ltd trimmed its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,074,573 shares of the company’s stock after selling 15,147 shares during the quarter. JARISLOWSKY FRASER Ltd owned 0.11% of Monster Beverage worth $72,330,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in Monster Beverage by 222.4% in the third quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock valued at $3,385,000 after acquiring an additional 34,697 shares during the last quarter. waypoint wealth counsel bought a new position in Monster Beverage during the second quarter valued at $314,000. Prudential PLC increased its position in Monster Beverage by 76.4% in the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after buying an additional 47,165 shares during the last quarter. VestGen Advisors LLC raised its stake in shares of Monster Beverage by 449.4% in the second quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock valued at $1,376,000 after buying an additional 17,974 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in shares of Monster Beverage by 87.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock valued at $2,163,000 after buying an additional 15,029 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Activity

In related news, Director Rodney C. Sacks sold 206,543 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Guy Carling sold 38,438 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the sale, the insider owned 21,993 shares in the company, valued at approximately $1,568,760.69. The trade was a 63.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 274,981 shares of company stock valued at $20,138,516 in the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Price Performance

MNST stock opened at $76.16 on Friday. The stock has a market capitalization of $74.41 billion, a P/E ratio of 43.27, a P/E/G ratio of 2.03 and a beta of 0.46. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $78.31. The business has a fifty day moving average price of $73.06 and a 200-day moving average price of $66.93.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.Monster Beverage’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. As a group, analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

MNST has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Monster Beverage in a research note on Monday. Morgan Stanley restated an “overweight” rating and set a $87.00 price target (up from $81.00) on shares of Monster Beverage in a research note on Tuesday, December 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, Evercore ISI raised their price target on Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.95.

Monster Beverage Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.