Balyasny Asset Management L.P. Boosts Position in Monster Beverage Co. (NASDAQ:MNST)

Balyasny Asset Management L.P. boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,144 shares of the company's stock after acquiring an additional 28,739 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Monster Beverage were worth $15,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sustainable Insight Capital Management LLC bought a new position in Monster Beverage during the 4th quarter worth approximately $1,214,000. Van ECK Associates Corp lifted its stake in Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock valued at $8,101,000 after acquiring an additional 7,780 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in Monster Beverage during the fourth quarter worth about $7,090,000. Diversified Trust Co acquired a new position in shares of Monster Beverage in the fourth quarter valued at $733,000. Finally, Alliance Wealth Advisors LLC UT acquired a new position in Monster Beverage in the 4th quarter valued at about $423,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark J. Hall sold 12,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the completion of the sale, the director now directly owns 296,846 shares of the company's stock, valued at approximately $16,178,107. The trade was a 3.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 72,273 shares of the company's stock, valued at approximately $3,994,528.71. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,316 shares of company stock worth $11,484,440. Corporate insiders own 7.80% of the company's stock.

Monster Beverage Price Performance

MNST traded up $1.00 during trading on Friday, reaching $61.14. The company's stock had a trading volume of 8,654,413 shares, compared to its average volume of 6,977,033. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $57.88 and a two-hundred day simple moving average of $53.96. The company has a market cap of $59.62 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.83.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on MNST shares. JPMorgan Chase & Co. upped their price target on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Friday. Bank of America raised their target price on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a report on Friday, April 25th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Truist Financial lifted their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, April 23rd. Finally, Piper Sandler boosted their target price on Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Monster Beverage currently has a consensus rating of "Hold" and an average price target of $60.17.

About Monster Beverage

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.