ING Groep NV boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 27.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 101,404 shares of the company’s stock after acquiring an additional 22,011 shares during the quarter. ING Groep NV’s holdings in Monster Beverage were worth $7,775,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNST. Harbor Investment Advisory LLC lifted its position in Monster Beverage by 136.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after acquiring an additional 205 shares during the period. Newbridge Financial Services Group Inc. raised its stake in shares of Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after buying an additional 415 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Monster Beverage during the 3rd quarter valued at about $36,000. Redmont Wealth Advisors LLC purchased a new position in shares of Monster Beverage during the 3rd quarter valued at about $42,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Monster Beverage during the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 72.36% of the company’s stock.
Insider Buying and Selling
In other Monster Beverage news, insider Emelie Tirre sold 88,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the completion of the sale, the insider directly owned 81,763 shares in the company, valued at approximately $7,028,347.48. The trade was a 52.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the sale, the director owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. This trade represents a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 159,700 shares of company stock valued at $13,730,462. 8.10% of the stock is owned by company insiders.
Monster Beverage Trading Down 1.2%
Monster Beverage (NASDAQ:MNST – Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.Monster Beverage’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. Equities analysts predict that Monster Beverage Corporation will post 2.31 EPS for the current fiscal year.
Monster Beverage announced that its board has approved a stock buyback program on Friday, May 15th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 0.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities analysts have weighed in on MNST shares. Jefferies Financial Group set a $100.00 price objective on Monster Beverage in a research note on Wednesday, March 11th. Wall Street Zen lowered Monster Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Morgan Stanley set a $103.00 price objective on shares of Monster Beverage and gave the stock an “overweight” rating in a research note on Monday, June 1st. Bank of America dropped their price objective on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, Stifel Nicolaus dropped their price objective on shares of Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.05.
Check Out Our Latest Analysis on Monster Beverage
About Monster Beverage
Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.
Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.
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