Monster Beverage Corporation (NASDAQ:MNST) Stake Raised by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 438.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,540 shares of the company's stock after buying an additional 115,240 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Monster Beverage were worth $8,280,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MNST. Proficio Capital Partners LLC increased its holdings in Monster Beverage by 33.4% in the 4th quarter. Proficio Capital Partners LLC now owns 5,569 shares of the company's stock valued at $293,000 after purchasing an additional 1,395 shares in the last quarter. AlphaQuest LLC acquired a new stake in Monster Beverage in the 4th quarter valued at $172,000. Independent Advisor Alliance increased its holdings in Monster Beverage by 63.1% in the 4th quarter. Independent Advisor Alliance now owns 6,412 shares of the company's stock valued at $337,000 after purchasing an additional 2,480 shares in the last quarter. HighTower Advisors LLC increased its holdings in Monster Beverage by 2.7% in the 4th quarter. HighTower Advisors LLC now owns 57,289 shares of the company's stock valued at $3,011,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Monster Beverage by 9.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 191,310 shares of the company's stock valued at $10,055,000 after purchasing an additional 16,689 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Roth Mkm increased their price target on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Roth Capital upped their price objective on shares of Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective for the company. in a research report on Wednesday, July 9th. Morgan Stanley upped their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Finally, Stifel Nicolaus assumed coverage on shares of Monster Beverage in a research report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Monster Beverage has an average rating of "Hold" and a consensus target price of $61.87.

Monster Beverage Stock Down 0.5%

Shares of MNST stock traded down $0.29 during trading hours on Wednesday, hitting $58.65. 4,453,063 shares of the company were exchanged, compared to its average volume of 6,011,917. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. Monster Beverage Corporation has a one year low of $43.32 and a one year high of $64.45. The business's 50-day simple moving average is $62.37 and its two-hundred day simple moving average is $56.91. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 2.09 and a beta of 0.59.

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

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider owned 89,501 shares of the company's stock, valued at $5,590,232.46. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction dated 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 directly owned 69,273 shares in the company, valued at $4,391,908.20. This 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.

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.