Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 70.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,917 shares of the company's stock after purchasing an additional 17,396 shares during the quarter. Investment Management Corp of Ontario's holdings in Monster Beverage were worth $2,203,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sustainable Insight Capital Management LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $1,214,000. Van ECK Associates Corp grew its holdings in shares of Monster Beverage by 5.3% in the fourth quarter. Van ECK Associates Corp now owns 154,125 shares of the company's stock valued at $8,101,000 after purchasing an additional 7,780 shares during the period. Miracle Mile Advisors LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $7,090,000. Alliance Wealth Advisors LLC UT purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $423,000. Finally, SYM FINANCIAL Corp purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $557,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $59.00 price objective on shares of Monster Beverage in a report on Wednesday, January 22nd. Morgan Stanley upped their price objective on shares of Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, May 9th. UBS Group increased their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Jefferies Financial Group increased their target price on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $60.50.

Insider Activity at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the sale, the chief financial officer now owns 72,273 shares of the company's stock, valued at $3,994,528.71. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 76,201 shares in the company, valued at approximately $4,220,011.38. This trade represents a 54.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,316 shares of company stock valued at $11,484,440 over the last 90 days. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Stock Up 0.9%

Shares of MNST traded up $0.53 during mid-day trading on Friday, hitting $62.86. 8,363,444 shares of the company's stock were exchanged, compared to its average volume of 6,978,827. The company has a market cap of $61.30 billion, a price-to-earnings ratio of 40.30, a P/E/G ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $62.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The stock's 50-day moving average is $58.49 and its 200-day moving average is $54.25.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, sell-side analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

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.