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Mackenzie Financial Corp Grows Position in Monster Beverage Co. (NASDAQ:MNST)

Monster Beverage logo with Consumer Staples background

Mackenzie Financial Corp increased its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 58.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 343,807 shares of the company's stock after purchasing an additional 127,334 shares during the quarter. Mackenzie Financial Corp's holdings in Monster Beverage were worth $18,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in Monster Beverage by 5.3% during the 4th quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock valued at $8,101,000 after purchasing an additional 7,780 shares during the period. Alliance Wealth Advisors LLC UT purchased a new position in shares of Monster Beverage in the fourth quarter worth $423,000. SYM FINANCIAL Corp purchased a new position in shares of Monster Beverage in the fourth quarter worth $557,000. Empower Advisory Group LLC boosted its position in shares of Monster Beverage by 6.5% during the fourth quarter. Empower Advisory Group LLC now owns 1,262,180 shares of the company's stock worth $66,340,000 after acquiring an additional 77,278 shares during the last quarter. Finally, Elevate Capital Advisors LLC purchased a new position in Monster Beverage during the fourth quarter valued at $1,624,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen increased their price target on Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Morgan Stanley increased their target price on Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Roth Mkm boosted their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Wells Fargo & Company upped their price target on shares of Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Piper Sandler increased their price objective on shares of Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.81.

Check Out Our Latest Research Report on MNST

Monster Beverage Stock Up 0.0%

Shares of MNST traded up $0.03 during midday trading on Friday, reaching $63.67. 13,500,761 shares of the stock were exchanged, compared to its average volume of 6,799,253. The company has a market capitalization of $62.09 billion, a P/E ratio of 40.81, a PEG ratio of 2.28 and a beta of 0.63. 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 $64.45. The company's 50 day moving average is $59.90 and its two-hundred day moving average is $54.87.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating 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 business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Guy Carling sold 47,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.02, for a total value of $2,585,940.00. Following the sale, the insider now directly owns 21,993 shares in the company, valued at approximately $1,210,054.86. This trade represents a 68.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider now owns 89,501 shares of the company's stock, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,112 shares of company stock worth $12,033,838 over the last 90 days. Company insiders own 7.80% of the company's stock.

About Monster Beverage

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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