Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,357,921 shares of the company's stock after buying an additional 825,489 shares during the quarter. Northern Trust Corp owned about 0.76% of Monster Beverage worth $386,732,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock valued at $28,000 after acquiring an additional 203 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in Monster Beverage during the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new position in Monster Beverage during the fourth quarter worth $31,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Monster Beverage in the 4th quarter valued at $33,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Monster Beverage

In related news, insider Emelie Tirre sold 91,316 shares of the company's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Guy Carling sold 47,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the completion of the transaction, the insider now owns 21,993 shares in the company, valued at $1,210,054.86. This represents a 68.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 208,316 shares of company stock valued at $11,484,440. Insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MNST shares. Truist Financial upped their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Citigroup lifted their price target on shares of Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Morgan Stanley increased their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, UBS Group lifted their target price on Monster Beverage from $57.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $58.39.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $59.25 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The company has a market cap of $57.66 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. The stock's 50-day moving average is $56.75 and its two-hundred day moving average is $53.57. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $60.34.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.38 earnings per share 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

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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