Novem Group Purchases 5,069 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Novem Group increased its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 34.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,774 shares of the company's stock after purchasing an additional 5,069 shares during the period. Novem Group's holdings in Monster Beverage were worth $1,157,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Monster Beverage by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company's stock worth $897,012,000 after buying an additional 1,383,914 shares during the period. Invesco Ltd. raised its holdings in Monster Beverage by 9.3% in the fourth quarter. Invesco Ltd. now owns 8,590,994 shares of the company's stock worth $451,543,000 after purchasing an additional 734,406 shares in the last quarter. Norges Bank purchased a new stake in Monster Beverage during the 4th quarter worth approximately $442,642,000. Northern Trust Corp grew its holdings in shares of Monster Beverage by 12.6% during the fourth quarter. Northern Trust Corp now owns 7,357,921 shares of the company's stock valued at $386,732,000 after buying an additional 825,489 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Monster Beverage by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company's stock valued at $284,146,000 after buying an additional 493,914 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

NASDAQ:MNST traded down $0.48 during trading hours on Thursday, reaching $62.57. 3,783,578 shares of the company's stock were exchanged, compared to its average volume of 5,999,383. The company has a market capitalization of $61.02 billion, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 2.23 and a beta of 0.59. Monster Beverage Corporation has a 12 month low of $43.32 and a 12 month high of $64.45. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. The business's 50-day simple moving average is $62.20 and its two-hundred day simple moving average is $56.33.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the business earned $0.42 EPS. The business's revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider owned 89,501 shares in the company, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 in the company, valued at $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Roth Mkm upped their price target 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. Piper Sandler raised their price target on shares of Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. TD Cowen increased their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a report on Friday, May 9th. UBS Group increased their price target on shares of Monster Beverage from $62.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Stifel Nicolaus initiated coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.05.

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.