IFM Investors Pty Ltd Grows Position in Monster Beverage Corporation (NASDAQ:MNST)

IFM Investors Pty Ltd grew its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,953 shares of the company's stock after buying an additional 13,402 shares during the period. IFM Investors Pty Ltd's holdings in Monster Beverage were worth $8,892,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Monster Beverage in the fourth quarter valued at $31,000. Coppell Advisory Solutions LLC boosted its position in shares of Monster Beverage by 259.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after purchasing an additional 495 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Monster Beverage in the 4th quarter valued at about $36,000. CVA Family Office LLC grew its stake in Monster Beverage by 28.6% during the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock worth $89,000 after buying an additional 338 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new position in Monster Beverage during the fourth quarter worth approximately $101,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the transaction, the chief financial officer owned 69,273 shares of the company's stock, valued at $4,391,908.20. The trade was a 28.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the completion of the sale, the insider owned 89,501 shares in the company, valued at $5,590,232.46. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Monster Beverage from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Jefferies Financial Group increased their price target 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. 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. Roth Mkm upped their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Finally, TD Cowen raised their price target on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of "Moderate Buy" and an average price target of $62.05.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $0.23 during trading on Monday, hitting $62.85. 4,267,497 shares of the company were exchanged, compared to its average volume of 5,992,142. The firm's fifty day moving average price is $62.36 and its 200 day moving average price is $56.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. The company has a market cap of $61.29 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.23 and a beta of 0.59. Monster Beverage Corporation has a 1 year low of $43.32 and a 1 year high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The company 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 earnings per share. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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.