KAMES CAPITAL plc purchased a new position in shares of Monster Beverage (NASDAQ:MNST) during the first quarter, Holdings Channel reports. The firm purchased 31,768 shares of the company’s stock, valued at approximately $1,817,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 6 Meridian acquired a new position in Monster Beverage during the first quarter worth about $410,000. Eagle Asset Management Inc. boosted its position in Monster Beverage by 15.3% during the first quarter. Eagle Asset Management Inc. now owns 1,246,124 shares of the company’s stock worth $71,290,000 after acquiring an additional 165,101 shares during the last quarter. Engadine Partners LLP boosted its position in Monster Beverage by 69.1% during the first quarter. Engadine Partners LLP now owns 648,453 shares of the company’s stock worth $37,098,000 after acquiring an additional 265,040 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in Monster Beverage during the first quarter worth about $3,768,000. Finally, State Treasurer State of Michigan boosted its position in Monster Beverage by 0.8% during the first quarter. State Treasurer State of Michigan now owns 121,692 shares of the company’s stock worth $6,962,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.
In other 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 value of $874,650.00. Following the sale, the vice president now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Norman Epstein sold 7,770 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $56.09, for a total transaction of $435,819.30. Following the completion of the sale, the director now directly owns 14,280 shares in the company, valued at $800,965.20. The disclosure for this sale can be found here. Insiders sold a total of 55,770 shares of company stock worth $3,228,099 over the last three months. Insiders own 9.70% of the company’s stock.
MNST has been the topic of a number of recent research reports. Citigroup set a $70.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a research report on Monday, March 5th. Deutsche Bank upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Monday, March 5th. BidaskClub upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Cowen reiterated a “buy” rating and issued a $77.00 target price on shares of Monster Beverage in a report on Monday, January 22nd. Finally, Stifel Nicolaus decreased their target price on shares of Monster Beverage from $73.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, March 1st. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Monster Beverage currently has a consensus rating of “Hold” and an average target price of $62.82.
Monster Beverage opened at $49.91 on Tuesday, MarketBeat.com reports. The company has a market capitalization of $27.84 billion, a PE ratio of 34.18, a P/E/G ratio of 1.81 and a beta of 1.24. Monster Beverage has a 1 year low of $47.53 and a 1 year high of $70.21.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Tuesday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $850.92 million for the quarter, compared to the consensus estimate of $845.88 million. Monster Beverage had a net margin of 24.69% and a return on equity of 22.88%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. sell-side analysts anticipate that Monster Beverage will post 1.71 earnings per share for the current fiscal year.
Monster Beverage announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 1st that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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