Shell Asset Management Co. acquired a new position in Monster Beverage Co. (NASDAQ:MNST) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 113,341 shares of the company’s stock, valued at approximately $7,173,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MNST. LS Investment Advisors LLC raised its stake in Monster Beverage by 7.3% during the 4th quarter. LS Investment Advisors LLC now owns 12,012 shares of the company’s stock valued at $760,000 after buying an additional 822 shares during the last quarter. Eastern Bank raised its stake in Monster Beverage by 0.4% during the 4th quarter. Eastern Bank now owns 189,711 shares of the company’s stock valued at $12,007,000 after buying an additional 845 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in Monster Beverage by 4.3% during the 4th quarter. Harbour Capital Advisors LLC now owns 20,610 shares of the company’s stock valued at $1,304,000 after buying an additional 855 shares during the last quarter. Saturna Capital CORP raised its stake in Monster Beverage by 3.0% during the 3rd quarter. Saturna Capital CORP now owns 31,100 shares of the company’s stock valued at $1,718,000 after buying an additional 900 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Monster Beverage by 11.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 8,626 shares of the company’s stock valued at $477,000 after buying an additional 914 shares during the last quarter. Institutional investors own 65.26% of the company’s stock.
In other Monster Beverage news, CEO Rodney C. Sacks sold 697 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $44,963.47. Following the completion of the transaction, the chief executive officer now owns 963,789 shares of the company’s stock, valued at approximately $62,174,028.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Norman Epstein sold 7,770 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $56.09, for a total transaction of $435,819.30. Following the transaction, the director now directly owns 14,280 shares of the company’s stock, valued at approximately $800,965.20. The disclosure for this sale can be found here. Insiders sold a total of 275,796 shares of company stock valued at $17,615,686 in the last ninety days. 9.40% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on MNST shares. UBS Group lowered shares of Monster Beverage to a “neutral” rating in a research note on Monday, November 20th. Susquehanna Bancshares set a $51.00 target price on shares of Monster Beverage and gave the company a “sell” rating in a research note on Monday, November 20th. Citigroup lowered shares of Monster Beverage to a “neutral” rating and decreased their target price for the company from $56.00 to $51.00 in a research note on Monday, November 20th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating and issued a $69.00 price objective (up from $62.00) on shares of Monster Beverage in a research note on Monday, November 20th. Finally, Jefferies Group upped their price objective on Monster Beverage from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, November 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $65.29.
Monster Beverage Co. (MNST) opened at $58.69 on Wednesday. The firm has a market cap of $33,094.92, a price-to-earnings ratio of 39.75, a P/E/G ratio of 1.77 and a beta of 1.14. Monster Beverage Co. has a 1-year low of $44.35 and a 1-year high of $70.21.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, February 28th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $810.40 million during the quarter, compared to the consensus estimate of $841.25 million. Monster Beverage had a return on equity of 22.54% and a net margin of 24.36%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. equities analysts predict that Monster Beverage Co. will post 1.78 earnings per share for the current year.
Monster Beverage declared that its board has approved a stock repurchase plan on Thursday, March 1st that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership 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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