Robeco Institutional Asset Management B.V. Grows Position in Monster Beverage Corporation (NASDAQ:MNST)

Robeco Institutional Asset Management B.V. raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 69.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,734 shares of the company's stock after buying an additional 11,815 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Monster Beverage were worth $1,682,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Monster Beverage in the 4th quarter worth about $442,642,000. CIBC Private Wealth Group LLC grew its stake in Monster Beverage by 659.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after acquiring an additional 4,231,063 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Monster Beverage by 5,095.6% during the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after acquiring an additional 3,004,391 shares during the period. Champlain Investment Partners LLC bought a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $110,942,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Stock Down 0.8%

Shares of NASDAQ:MNST traded down $0.48 during trading on Thursday, reaching $62.57. The stock had a trading volume of 3,783,578 shares, compared to its average volume of 5,999,383. The firm's 50-day simple moving average is $62.20 and its 200 day simple moving average is $56.33. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. Monster Beverage Corporation has a one year low of $43.32 and a one year high of $64.45. The company has a market capitalization of $61.02 billion, a P/E ratio of 41.16, a PEG ratio of 2.23 and a beta of 0.59.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MNST shares. Citigroup increased their price objective on Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Piper Sandler upped their target price on Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Bank of America increased their price target on Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Wells Fargo & Company lifted their price objective on Monster Beverage from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, TD Cowen upped their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of "Moderate Buy" and an average price target of $62.05.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 8,796 shares of the stock in a transaction 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 completion of the sale, the insider owned 89,501 shares in the company, valued at approximately $5,590,232.46. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the sale, the chief financial officer directly 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 disclosure for this sale can be found here. Corporate insiders own 8.30% of the company's stock.

About Monster Beverage

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.