Point72 Asset Management L.P. Acquires Shares of 802,219 Monster Beverage Co. (NASDAQ:MNST)

Point72 Asset Management L.P. acquired a new stake in Monster Beverage Co. (NASDAQ:MNST) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 802,219 shares of the company’s stock, valued at approximately $42,165,000.

A number of other large investors also recently modified their holdings of MNST. Norges Bank acquired a new position in shares of Monster Beverage during the 4th quarter worth about $442,642,000. CIBC Private Wealth Group LLC boosted its position in shares of Monster Beverage by 659.1% during the 4th 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. boosted its position 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 acquiring an additional 2,480,291 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Monster Beverage during the 4th quarter worth about $121,575,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Monster Beverage during the 4th quarter worth about $106,882,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Up 2.2%

Shares of Monster Beverage stock opened at $62.33 on Friday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $62.46. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $58.34 and its 200-day simple moving average is $54.17. The firm has a market cap of $60.78 billion, a price-to-earnings ratio of 39.96, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, beating 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 firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MNST shares. Citigroup boosted their price objective on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 14th. Bank of America boosted their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Truist Financial lifted their target price on Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, April 23rd. Roth Mkm lifted their target price on Monster Beverage from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their target price on Monster Beverage from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.50.

Insider Activity at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares in the company, valued at approximately $4,220,011.38. The trade was a 54.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the sale, the chief financial officer now owns 72,273 shares in the company, valued at approximately $3,994,528.71. The trade was a 12.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,316 shares of company stock worth $11,484,440 over the last 90 days. Company insiders own 8.30% of the company’s stock.

Monster Beverage Company Profile

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.