OLD Mission Capital LLC purchased a new position in Monster Beverage Co. (NASDAQ:MNST) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,009 shares of the company’s stock, valued at approximately $633,000.
Several other large investors also recently bought and sold shares of MNST. Blue Sky Asset Management LLC purchased a new position in shares of Monster Beverage during the 4th quarter valued at $123,000. Bessemer Group Inc. grew its position in Monster Beverage by 397.6% in the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after acquiring an additional 2,143 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in Monster Beverage in the fourth quarter worth $166,000. Valeo Financial Advisors LLC purchased a new stake in Monster Beverage during the third quarter valued at about $169,000. Finally, Captrust Financial Advisors purchased a new stake in Monster Beverage during the fourth quarter valued at about $177,000. 65.42% of the stock is currently owned by institutional investors.
In other Monster Beverage news, VP Thomas J. Kelly sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $58.31, for a total transaction of $874,650.00. Following the sale, the vice president now owns 9,651 shares of the company’s stock, valued at approximately $562,749.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Rodney C. Sacks sold 62,386 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $64.53, for a total transaction of $4,025,768.58. Following the sale, the chairman now directly owns 949,806 shares in the company, valued at approximately $61,290,981.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,139 shares of company stock valued at $8,156,191. 9.40% of the stock is currently owned by company insiders.
A number of research firms recently issued reports on MNST. Deutsche Bank began coverage on shares of Monster Beverage in a research note on Wednesday, December 13th. They issued a “hold” rating and a $66.00 price target for the company. Susquehanna Bancshares reaffirmed a “sell” rating and set a $56.00 target price on shares of Monster Beverage in a research note on Thursday, January 18th. Cowen reiterated a “buy” rating and set a $77.00 price target on shares of Monster Beverage in a report on Monday, January 22nd. Macquarie increased their price target on shares of Monster Beverage from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 21st. Finally, BidaskClub cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned 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 target price of $65.87.
Shares of MNST stock traded down $1.48 during trading hours on Friday, reaching $55.93. 3,123,379 shares of the stock were exchanged, compared to its average volume of 2,892,435. Monster Beverage Co. has a 12-month low of $44.35 and a 12-month high of $70.21. The stock has a market cap of $31,678.92, a PE ratio of 38.31, a P/E/G ratio of 1.70 and a beta of 1.26.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The business had revenue of $810.40 million during the quarter, compared to the consensus estimate of $841.25 million. Monster Beverage had a net margin of 24.36% and a return on equity of 22.54%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. equities research analysts predict that Monster Beverage Co. will post 1.78 earnings per share for the current fiscal year.
Monster Beverage announced that its Board of Directors has initiated a share buyback program on Thursday, March 1st that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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Monster Beverage Profile
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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