802,219 Shares in Monster Beverage Co. (NASDAQ:MNST) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 802,219 shares of the company's stock, valued at approximately $42,165,000. Point72 Asset Management L.P. owned 0.08% of Monster Beverage at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MNST. Geode Capital Management LLC lifted its stake in shares of Monster Beverage by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 17,112,000 shares of the company's stock worth $897,012,000 after buying an additional 1,383,914 shares during the last quarter. Invesco Ltd. raised its holdings in Monster Beverage by 9.3% in the 4th quarter. Invesco Ltd. now owns 8,590,994 shares of the company's stock valued at $451,543,000 after acquiring an additional 734,406 shares during the period. Norges Bank acquired a new stake in Monster Beverage during the fourth quarter worth approximately $442,642,000. Northern Trust Corp grew its position in shares of Monster Beverage by 12.6% in the fourth quarter. Northern Trust Corp now owns 7,357,921 shares of the company's stock valued at $386,732,000 after purchasing an additional 825,489 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Monster Beverage by 659.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after purchasing an additional 4,231,063 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Price Performance

NASDAQ MNST traded up $0.04 during trading on Monday, hitting $62.90. 4,009,498 shares of the company's stock were exchanged, compared to its average volume of 6,966,950. The company has a market cap of $61.34 billion, a PE ratio of 40.32, a P/E/G ratio of 2.28 and a beta of 0.63. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $63.25. The stock's 50 day moving average price is $58.49 and its two-hundred day moving average price is $54.26.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion during 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 firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. Research analysts expect that Monster Beverage Co. will post 1.62 EPS for the current year.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares of the company's stock, valued at approximately $4,220,011.38. This trade represents a 54.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 10,000 shares of the company'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 completion of the transaction, the chief financial officer now directly owns 72,273 shares of the company's stock, valued at $3,994,528.71. This represents a 12.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,316 shares of company stock valued at $11,484,440. 8.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MNST shares. Jefferies Financial Group upped their price objective on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Piper Sandler upped their price target on shares of Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Wells Fargo & Company lifted their price objective on shares of Monster Beverage from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Roth Mkm increased their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Monster Beverage in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.50.

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.