Adage Capital Partners GP L.L.C. Boosts Position in Monster Beverage Co. (NASDAQ:MNST)

Adage Capital Partners GP L.L.C. increased its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 654,222 shares of the company's stock after purchasing an additional 95,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.07% of Monster Beverage worth $34,386,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Sustainable Insight Capital Management LLC bought a new stake in Monster Beverage during the 4th quarter valued at about $1,214,000. Van ECK Associates Corp raised its holdings in shares of Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock worth $8,101,000 after buying an additional 7,780 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in Monster Beverage during the 4th quarter worth about $7,090,000. Diversified Trust Co purchased a new stake in Monster Beverage during the 4th quarter valued at about $733,000. Finally, Alliance Wealth Advisors LLC UT acquired a new position in shares of Monster Beverage in the fourth quarter valued at about $423,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the sale, the chief financial officer now owns 72,273 shares of the company's stock, valued at $3,994,528.71. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the sale, the insider now owns 76,201 shares of the company's stock, valued at $4,220,011.38. The trade was a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock worth $11,484,440 over the last quarter. 7.80% of the stock is currently owned by insiders.

Monster Beverage Price Performance

Shares of MNST stock traded up $0.35 during mid-day trading on Wednesday, reaching $59.60. The company's stock had a trading volume of 1,194,216 shares, compared to its average volume of 7,016,234. The firm's 50-day moving average is $56.75 and its two-hundred day moving average is $53.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The company has a market cap of $58.00 billion, a P/E ratio of 38.21, a PEG ratio of 2.28 and a beta of 0.64. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $60.34.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. On average, research analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial lifted their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, April 23rd. Bank of America upped their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Citigroup lifted their target price on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Royal Bank of Canada reissued an "outperform" rating and set a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group boosted their target price on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $58.39.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.