Two Sigma Advisers LP raised its holdings in Monster Beverage Co. (NASDAQ:MNST) by 994.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,758,697 shares of the company’s stock after purchasing an additional 1,597,976 shares during the period. Two Sigma Advisers LP owned approximately 0.31% of Monster Beverage worth $111,308,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in Monster Beverage during the 4th quarter worth approximately $84,599,000. Renaissance Technologies LLC grew its holdings in Monster Beverage by 108.4% during the 4th quarter. Renaissance Technologies LLC now owns 2,222,900 shares of the company’s stock worth $140,687,000 after acquiring an additional 1,156,300 shares during the last quarter. Jennison Associates LLC grew its holdings in Monster Beverage by 8.9% during the 4th quarter. Jennison Associates LLC now owns 13,126,248 shares of the company’s stock worth $830,760,000 after acquiring an additional 1,072,773 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Monster Beverage by 19.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,132,325 shares of the company’s stock worth $338,810,000 after acquiring an additional 1,008,607 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in Monster Beverage by 604.0% during the 4th quarter. State of Tennessee Treasury Department now owns 1,068,925 shares of the company’s stock worth $67,652,000 after acquiring an additional 917,095 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.
Shares of Monster Beverage Co. (MNST) traded up $0.29 during mid-day trading on Tuesday, hitting $58.56. 1,182,002 shares of the stock traded hands, compared to its average volume of 2,991,164. The stock has a market capitalization of $33,213.86, a P/E ratio of 40.92, a P/E/G ratio of 1.78 and a beta of 1.14. Monster Beverage Co. has a 52 week low of $44.35 and a 52 week high of $70.21.
Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, February 28th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Monster Beverage had a net margin of 24.36% and a return on equity of 22.54%. The firm had revenue of $810.40 million during the quarter, compared to analysts’ expectations of $841.25 million. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. analysts forecast that Monster Beverage Co. will post 1.78 EPS for the current year.
Monster Beverage declared that its Board of Directors has authorized a share repurchase program on Thursday, March 1st that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
MNST has been the topic of a number of analyst reports. Deutsche Bank initiated coverage on shares of Monster Beverage in a research note on Wednesday, December 13th. They issued a “hold” rating and a $66.00 price objective on the stock. Susquehanna Bancshares reaffirmed a “sell” rating and issued a $56.00 price objective on shares of Monster Beverage in a research note on Thursday, January 18th. Jefferies Group upped their price objective on shares of Monster Beverage from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, November 28th. Cowen reissued a “buy” rating and set a $77.00 target price on shares of Monster Beverage in a research note on Monday, January 22nd. Finally, BidaskClub lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Monster Beverage presently has a consensus rating of “Buy” and a consensus price target of $65.29.
In other Monster Beverage news, Director Mark J. Hall sold 33,000 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $58.11, for a total transaction of $1,917,630.00. Following the completion of the transaction, the director now owns 791,808 shares in the company, valued at $46,011,962.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Rodney C. Sacks sold 189,861 shares of the stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total transaction of $12,135,915.12. The disclosure for this sale can be found here. Insiders have sold 323,796 shares of company stock valued at $20,407,966 in the last 90 days. 9.40% of the stock is currently owned by corporate insiders.
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About Monster Beverage
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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