Toronto Dominion Bank Boosts Stake in Monster Beverage Co. (NASDAQ:MNST)

Toronto Dominion Bank raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 408,826 shares of the company's stock after acquiring an additional 11,947 shares during the quarter. Toronto Dominion Bank's holdings in Monster Beverage were worth $21,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sustainable Insight Capital Management LLC bought a new stake in Monster Beverage during the fourth quarter valued at about $1,214,000. Van ECK Associates Corp lifted its position in shares of Monster Beverage by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock valued at $8,101,000 after buying an additional 7,780 shares during the last quarter. Alliance Wealth Advisors LLC UT purchased a new stake in shares of Monster Beverage during the fourth quarter valued at about $423,000. SYM FINANCIAL Corp bought a new stake in shares of Monster Beverage in the 4th quarter valued at about $557,000. Finally, Empower Advisory Group LLC grew its position in shares of Monster Beverage by 6.5% in the 4th quarter. Empower Advisory Group LLC now owns 1,262,180 shares of the company's stock worth $66,340,000 after buying an additional 77,278 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

NASDAQ:MNST opened at $62.90 on Tuesday. The firm's fifty day moving average is $58.66 and its two-hundred day moving average is $54.34. The firm has a market cap of $61.34 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.28 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a one year low of $43.32 and a one year high of $63.00.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The company's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. Research analysts expect that Monster Beverage Co. will post 1.62 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on MNST shares. Roth Capital increased their target price 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. Bank of America increased their price objective on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a report on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Monster Beverage in a research note on Friday, February 28th. Jefferies Financial Group increased their price target on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company raised their price target on Monster Beverage from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $60.50.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares of the company's stock, valued at $4,220,011.38. This represents a 54.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark J. Hall sold 12,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.50, for a total value of $654,000.00. Following the sale, the director now owns 296,846 shares in the company, valued at $16,178,107. This trade represents a 3.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,316 shares of company stock worth $11,484,440. 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.

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