Voya Investment Management LLC Buys 13,356 Shares of Monster Beverage Co. (NASDAQ:MNST)

Voya Investment Management LLC grew its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 223,192 shares of the company's stock after purchasing an additional 13,356 shares during the quarter. Voya Investment Management LLC's holdings in Monster Beverage were worth $11,731,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Monster Beverage by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company's stock valued at $897,012,000 after acquiring 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 during the period. Norges Bank bought a new position in shares of Monster Beverage during the fourth quarter worth $442,642,000. CIBC Private Wealth Group LLC grew its holdings in shares of 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 valued at $251,445,000 after buying an additional 4,231,063 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Monster Beverage by 21.0% in the 4th quarter. Wellington Management Group LLP now owns 4,716,603 shares of the company's stock valued at $247,905,000 after buying an additional 818,476 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on Monster Beverage from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Truist Financial raised their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Jefferies Financial Group upped their price objective on Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $58.78.

Insider Buying and Selling

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark J. Hall sold 48,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total transaction of $2,634,720.00. Following the completion of the sale, the director now directly owns 296,846 shares of the company's stock, valued at approximately $16,293,876.94. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,316 shares of company stock valued at $11,484,440. Company insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

NASDAQ:MNST traded up $0.53 on Friday, hitting $60.05. The company's stock had a trading volume of 4,157,467 shares, compared to its average volume of 7,020,057. 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 one year low of $43.32 and a one year high of $60.34. The stock has a fifty day moving average of $57.19 and a two-hundred day moving average of $53.72. The firm has a market capitalization of $58.56 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. Research analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current year.

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.