Monster Beverage Co. (NASDAQ:MNST) Position Lifted by Crestline Management LP

Crestline Management LP boosted its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,285 shares of the company's stock after purchasing an additional 5,913 shares during the period. Crestline Management LP's holdings in Monster Beverage were worth $6,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. Geode Capital Management LLC increased its position in Monster Beverage by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company's stock valued at $897,012,000 after purchasing an additional 1,383,914 shares during the period. Invesco Ltd. raised its holdings in shares of Monster Beverage by 9.3% during the fourth quarter. Invesco Ltd. now owns 8,590,994 shares of the company's stock valued at $451,543,000 after purchasing an additional 734,406 shares during the last quarter. Norges Bank bought a new position in shares of Monster Beverage during the 4th quarter valued at $442,642,000. Northern Trust Corp boosted its position in Monster Beverage by 12.6% in the fourth quarter. Northern Trust Corp now owns 7,357,921 shares of the company's stock worth $386,732,000 after purchasing an additional 825,489 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Monster Beverage by 659.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock valued at $251,445,000 after buying an additional 4,231,063 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MNST shares. UBS Group upped their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday. Piper Sandler increased their price target on Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a report on Friday. Wells Fargo & Company upped their target price on Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. TD Cowen raised their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Jefferies Financial Group upped their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $60.17.

Insider Activity at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the transaction, the chief financial officer now directly owns 72,273 shares of the company's stock, valued at $3,994,528.71. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Emelie Tirre sold 91,316 shares of the 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 directly owns 76,201 shares of the company's stock, valued at $4,220,011.38. The trade was a 54.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,316 shares of company stock valued at $11,484,440 over the last quarter. Insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

Monster Beverage stock traded up $1.00 during trading hours on Friday, reaching $61.14. 8,654,413 shares of the stock were exchanged, compared to its average volume of 6,964,961. 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 firm's 50 day moving average is $57.88 and its 200 day moving average is $53.95. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.83. The stock has a market cap of $59.62 billion, a P/E ratio of 39.19, a P/E/G ratio of 2.28 and a beta of 0.63.

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

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.