Rafferty Asset Management LLC Has $16.26 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

Rafferty Asset Management LLC raised its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,263 shares of the company's stock after purchasing an additional 25,508 shares during the period. Rafferty Asset Management LLC's holdings in Monster Beverage were worth $16,255,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Monster Beverage in the fourth quarter worth approximately $442,642,000. CIBC Private Wealth Group LLC grew its position in Monster Beverage by 659.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after acquiring an additional 4,231,063 shares in the last quarter. Montrusco Bolton Investments Inc. increased its stake in shares of Monster Beverage by 250.9% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company's stock worth $178,801,000 after purchasing an additional 2,480,291 shares during the last quarter. Champlain Investment Partners LLC bought a new position in shares of Monster Beverage during the 4th quarter valued at $121,575,000. Finally, Raymond James Financial Inc. bought a new position in shares of Monster Beverage during the 4th quarter valued at $106,882,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Price Performance

NASDAQ:MNST traded up $0.09 during trading hours on Tuesday, reaching $62.99. The company had a trading volume of 5,401,728 shares, compared to its average volume of 6,960,715. Monster Beverage Co. has a one year low of $43.32 and a one year high of $63.16. The firm has a market capitalization of $61.43 billion, a PE ratio of 40.38, a PEG ratio of 2.28 and a beta of 0.63. The stock has a 50-day moving average of $58.66 and a two-hundred day moving average of $54.34. 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 (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the company earned $0.42 EPS. Monster Beverage's revenue for the quarter was down 2.3% on a year-over-year basis. Analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Cowen upped their price target on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company boosted 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. Citigroup raised their target price on shares of Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. lifted their target price on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group raised their price target on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Two research 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $60.50.

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction 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 transaction, the insider now directly owns 76,201 shares in the company, valued at approximately $4,220,011.38. This trade represents a 54.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 48,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $54.89, for a total value of $2,634,720.00. Following the sale, the director now owns 296,846 shares of the company's stock, valued at approximately $16,293,876.94. The trade was a 13.92% 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 worth $11,484,440. Insiders own 8.30% of the company's stock.

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.