Baird Financial Group Inc. Grows Stake in Monster Beverage Co. (NASDAQ:MNST)

Baird Financial Group Inc. raised its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,001 shares of the company's stock after acquiring an additional 27,272 shares during the quarter. Baird Financial Group Inc.'s holdings in Monster Beverage were worth $11,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. increased its position in Monster Beverage by 62.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after buying an additional 203 shares during the last quarter. Spire Wealth Management bought a new position in shares of Monster Beverage during the 4th quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in Monster Beverage in the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new stake in Monster Beverage in the 4th quarter valued at about $30,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Monster Beverage during the fourth quarter valued at about $33,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Trading Up 1.7 %

Shares of MNST stock traded up $1.00 during mid-day trading on Friday, reaching $61.14. The stock had a trading volume of 8,654,413 shares, compared to its average volume of 6,964,961. The firm has a market capitalization of $59.62 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63. The stock's 50-day moving average price is $57.88 and its two-hundred day moving average price is $53.95. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.83.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the company posted $0.42 EPS. Monster Beverage's quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Monster Beverage in a research report on Friday, February 28th. Royal Bank of Canada reiterated an "outperform" rating and issued a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Jefferies Financial Group boosted their price objective on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Truist Financial lifted their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $60.17.

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.27, for a total transaction of $552,700.00. Following the transaction, the chief financial officer now owns 72,273 shares in the company, valued at $3,994,528.71. The trade was a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Guy Carling sold 47,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the completion of the sale, the insider now owns 21,993 shares of the company's stock, valued at $1,210,054.86. This trade represents a 68.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,316 shares of company stock valued at $11,484,440. 7.80% of the stock is currently owned by company insiders.

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.