Louisiana State Employees Retirement System bought a new stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 127,400 shares of the company's stock, valued at approximately $7,340,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. WCM Investment Management LLC grew its stake in shares of Monster Beverage by 8.6% in the 4th quarter. WCM Investment Management LLC now owns 90,554 shares of the company's stock valued at $5,200,000 after buying an additional 7,187 shares in the last quarter. Cornerstone Wealth Group LLC boosted its position in Monster Beverage by 8.9% during the fourth quarter. Cornerstone Wealth Group LLC now owns 51,792 shares of the company's stock worth $2,984,000 after purchasing an additional 4,241 shares during the period. Perigon Wealth Management LLC boosted its position in Monster Beverage by 2.7% during the fourth quarter. Perigon Wealth Management LLC now owns 18,494 shares of the company's stock worth $1,065,000 after purchasing an additional 483 shares during the period. Sapient Capital LLC bought a new stake in Monster Beverage during the fourth quarter worth approximately $2,266,000. Finally, Janiczek Wealth Management LLC lifted its holdings in shares of Monster Beverage by 40.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,809 shares of the company's stock worth $104,000 after buying an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.
Insider Activity at Monster Beverage
In related news, Director Mark J. Hall sold 659,000 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.40% of the stock is owned by company insiders.
Monster Beverage Price Performance
Shares of MNST stock traded up $0.28 during trading hours on Friday, hitting $55.01. 5,634,395 shares of the company's stock were exchanged, compared to its average volume of 4,259,000. The stock's 50-day moving average is $57.40 and its 200-day moving average is $55.49. The stock has a market cap of $57.25 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72. Monster Beverage Co. has a 52 week low of $47.13 and a 52 week high of $61.22.
Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.76 billion. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. Equities research analysts forecast that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
MNST has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price target on Monster Beverage from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. The Goldman Sachs Group upped their target price on Monster Beverage from $62.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on Monster Beverage from $61.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, January 17th. Redburn Atlantic began coverage on Monster Beverage in a research note on Wednesday, March 6th. They issued a "buy" rating for the company. Finally, Royal Bank of Canada upped their target price on Monster Beverage from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $63.11.
Read Our Latest Analysis on MNST
Monster Beverage Company Profile
(
Free Report)
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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