National Bank of Canada FI Buys 319,108 Shares of Monster Beverage Co. (NASDAQ:MNST)

National Bank of Canada FI grew its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,102,207 shares of the company's stock after acquiring an additional 319,108 shares during the period. National Bank of Canada FI owned 0.11% of Monster Beverage worth $64,577,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Peoples Bank KS acquired a new position in Monster Beverage in the 3rd quarter worth about $26,000. Headinvest LLC bought a new stake in shares of Monster Beverage in the 3rd quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Monster Beverage in the third quarter worth approximately $31,000. Catalyst Capital Advisors LLC raised its position in Monster Beverage by 34.6% during the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company's stock valued at $41,000 after acquiring an additional 199 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new stake in Monster Beverage in the third quarter valued at approximately $53,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now directly owns 777,840 shares of the company's stock, valued at $45,542,532. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

MNST has been the topic of several recent research reports. The Goldman Sachs Group raised their target price on Monster Beverage from $62.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $64.00 to $63.00 and set a "buy" rating for the company in a report on Monday, February 26th. Jefferies Financial Group increased their price target on Monster Beverage from $66.00 to $69.00 and gave the company a "buy" rating in a report on Thursday, February 29th. Piper Sandler boosted their price objective on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Morgan Stanley lowered their target price on shares of Monster Beverage from $68.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.32.

Monster Beverage Stock Performance

Shares of MNST stock traded up $1.61 during mid-day trading on Friday, reaching $55.00. The company's stock had a trading volume of 12,204,624 shares, compared to its average volume of 5,889,620. The firm's 50-day moving average is $56.84 and its two-hundred day moving average is $55.86. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $61.22. The company has a market cap of $57.30 billion, a P/E ratio of 34.59, a PEG ratio of 2.25 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 21.13% and a net margin of 22.83%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that Monster Beverage Co. will post 1.79 EPS 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.