Monster Beverage Co. (NASDAQ:MNST) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 33.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,519 shares of the company's stock after acquiring an additional 7,412 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Monster Beverage were worth $1,552,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MNST. Norges Bank purchased a new position in shares of Monster Beverage in the fourth quarter valued at $442,642,000. CIBC Private Wealth Group LLC grew its stake in Monster Beverage by 659.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock valued at $251,445,000 after acquiring an additional 4,231,063 shares during the last quarter. Montrusco Bolton Investments Inc. grew its stake in Monster Beverage by 250.9% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company's stock valued at $178,801,000 after acquiring an additional 2,480,291 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in Monster Beverage during the 4th quarter valued at about $121,575,000. Finally, Raymond James Financial Inc. acquired a new position in Monster Beverage during the fourth quarter worth about $106,882,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 0.2 %

MNST stock traded down $0.13 during trading on Monday, reaching $58.54. 590,082 shares of the stock traded hands, compared to its average volume of 7,032,471. The firm has a market capitalization of $56.97 billion, a PE ratio of 37.58, a P/E/G ratio of 2.28 and a beta of 0.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The business's 50 day moving average price is $56.45 and its 200-day moving average price is $53.48. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week 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 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. As a group, sell-side analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Insider Activity

In other news, CFO Thomas J. Kelly sold 10,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the transaction, the chief financial officer now directly owns 72,273 shares in the company, valued at approximately $3,994,528.71. This represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark J. Hall sold 12,000 shares of Monster Beverage stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.50, for a total transaction of $654,000.00. Following the sale, the director now directly owns 296,846 shares in the company, valued at $16,178,107. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,316 shares of company stock valued at $11,484,440. Company insiders own 7.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Jefferies Financial Group raised their price target on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. UBS Group upped their price objective on Monster Beverage from $57.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Truist Financial upped their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $58.39.

Monster Beverage 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.