Two Sigma Investments LP reduced its position in Monster Beverage Co. (NASDAQ:MNST) by 95.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,708 shares of the company’s stock after selling 395,978 shares during the period. Two Sigma Investments LP’s holdings in Monster Beverage were worth $874,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its position in Monster Beverage by 6.4% in the third quarter. DnB Asset Management AS now owns 13,225 shares of the company’s stock worth $1,942,000 after buying an additional 800 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Monster Beverage by 2.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,501 shares of the company’s stock worth $3,010,000 after buying an additional 536 shares in the last quarter. Emerald Advisers Inc. PA boosted its position in Monster Beverage by 14.0% in the third quarter. Emerald Advisers Inc. PA now owns 23,801 shares of the company’s stock worth $3,494,000 after buying an additional 2,922 shares in the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund boosted its position in Monster Beverage by 11.3% in the third quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund now owns 11,393 shares of the company’s stock worth $1,673,000 after buying an additional 1,153 shares in the last quarter. Finally, Dock Street Asset Management Inc. bought a new position in Monster Beverage during the third quarter worth $1,625,000. Hedge funds and other institutional investors own 28.01% of the company’s stock.
Monster Beverage Co. (NASDAQ:MNST) opened at 46.94 on Monday. The stock’s 50 day moving average price is $45.02 and its 200 day moving average price is $45.74. Monster Beverage Co. has a 1-year low of $40.30 and a 1-year high of $55.50. The stock has a market capitalization of $26.60 billion, a PE ratio of 39.45 and a beta of 0.77.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, March 1st. The company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. Monster Beverage had a return on equity of 17.06% and a net margin of 23.07%. The company earned $753.80 million during the quarter, compared to the consensus estimate of $723.88 million. During the same period last year, the business earned $0.23 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. Equities research analysts forecast that Monster Beverage Co. will post $1.48 earnings per share for the current year.
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A number of research firms have weighed in on MNST. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Monster Beverage in a report on Friday, March 3rd. Cowen and Company upped their price target on Monster Beverage to $60.00 in a report on Friday, March 3rd. JPMorgan Chase & Co. began coverage on Monster Beverage in a report on Tuesday, March 21st. They issued an “overweight” rating and a $56.00 price target for the company. Zacks Investment Research upgraded Monster Beverage from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. Finally, Susquehanna Bancshares Inc restated a “hold” rating and issued a $39.00 price target on shares of Monster Beverage in a report on Monday, January 9th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.52.
In related news, insider Mark J. Hall sold 487,500 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $46.34, for a total value of $22,590,750.00. Following the transaction, the insider now directly owns 1,031,808 shares of the company’s stock, valued at approximately $47,813,982.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark J. Hall sold 93,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $46.12, for a total value of $4,289,160.00. Following the completion of the transaction, the insider now directly owns 866,808 shares in the company, valued at $39,977,184.96. The disclosure for this sale can be found here. Insiders have sold a total of 595,500 shares of company stock valued at $27,586,110 over the last ninety days. Company insiders own 9.20% of the company’s stock.
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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