MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in Monster Beverage Co. (NASDAQ:MNST)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 865,232 shares of the company's stock after buying an additional 187,122 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.09% of Monster Beverage worth $45,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after purchasing an additional 203 shares in the last quarter. Spire Wealth Management purchased a new position in Monster Beverage during the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $30,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Monster Beverage from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. CICC Research upgraded Monster Beverage from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $56.00 to $65.00 in a report on Monday, May 12th. Wells Fargo & Company lifted their price target on Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Bank of America boosted their target price on Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, Piper Sandler boosted their target price on Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" 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 twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of "Hold" and an average price target of $60.50.

Insider Buying and Selling at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the sale, the chief financial officer now directly owns 72,273 shares in the company, valued at $3,994,528.71. This represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark J. Hall sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.50, for a total value of $654,000.00. Following the completion of the sale, the director now owns 296,846 shares of the company's stock, 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. Insiders sold 208,316 shares of company stock valued at $11,484,440 over the last quarter. 8.30% of the stock is currently owned by insiders.

Monster Beverage Stock Performance

Shares of MNST stock traded up $0.53 on Friday, hitting $62.86. The company had a trading volume of 8,363,444 shares, compared to its average volume of 6,971,884. The firm has a market cap of $61.30 billion, a P/E ratio of 40.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63. The company has a 50-day moving average price of $58.49 and a 200-day moving average price of $54.24. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $62.92.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping 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 return on equity of 23.31% and a net margin of 21.66%. Monster Beverage's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, equities research analysts predict that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal 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.