OLD National Bancorp IN Trims Stock Position in Monster Beverage Corp (NASDAQ:MNST)

OLD National Bancorp IN cut its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 121,461 shares of the company’s stock after selling 206 shares during the quarter. OLD National Bancorp IN’s holdings in Monster Beverage were worth $7,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. Nuveen Asset Management LLC raised its holdings in shares of Monster Beverage by 7,920.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock worth $580,817,000 after purchasing an additional 8,985,980 shares during the period. Viking Global Investors LP purchased a new position in shares of Monster Beverage in the 2nd quarter worth about $565,020,000. Maverick Capital Ltd. raised its holdings in shares of Monster Beverage by 2,731.7% in the 3rd quarter. Maverick Capital Ltd. now owns 3,060,771 shares of the company’s stock worth $177,708,000 after purchasing an additional 2,952,681 shares during the period. AQR Capital Management LLC raised its holdings in shares of Monster Beverage by 39.0% in the 2nd quarter. AQR Capital Management LLC now owns 4,795,737 shares of the company’s stock worth $306,112,000 after purchasing an additional 1,345,673 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Monster Beverage by 124.8% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,322,828 shares of the company’s stock worth $84,436,000 after purchasing an additional 734,404 shares during the period. Hedge funds and other institutional investors own 65.92% of the company’s stock.

In other Monster Beverage news, EVP Thomas J. Kelly sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $60.07, for a total transaction of $1,982,310.00. Following the completion of the sale, the executive vice president now owns 58,249 shares in the company, valued at approximately $3,499,017.43. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Emelie Tirre sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $58.58, for a total value of $615,090.00. Following the sale, the insider now owns 63,101 shares of the company’s stock, valued at approximately $3,696,456.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,250 shares of company stock worth $5,261,580. Company insiders own 10.20% of the company’s stock.

Shares of NASDAQ:MNST traded up $1.22 during mid-day trading on Thursday, hitting $67.10. 2,551,113 shares of the company traded hands, compared to its average volume of 2,819,623. The firm has a market cap of $35.26 billion, a P/E ratio of 37.49, a PEG ratio of 2.04 and a beta of 1.16. Monster Beverage Corp has a 52-week low of $52.23 and a 52-week high of $67.17. The firm’s 50 day simple moving average is $62.78 and its 200 day simple moving average is $60.16.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, November 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Monster Beverage had a return on equity of 28.23% and a net margin of 26.58%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. On average, equities analysts expect that Monster Beverage Corp will post 2.04 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on MNST shares. Royal Bank of Canada set a $75.00 price objective on Monster Beverage and gave the stock a “buy” rating in a report on Monday, September 30th. Guggenheim downgraded Monster Beverage from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $74.00 to $60.00 in a report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on Monster Beverage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded Monster Beverage from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a report on Monday. Finally, BidaskClub upgraded Monster Beverage from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.94.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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