70,099 Shares in Monster Beverage Co. (NASDAQ:MNST) Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC purchased a new stake in Monster Beverage Co. (NASDAQ:MNST) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 70,099 shares of the company’s stock, valued at approximately $3,684,000.

A number of other large investors have also recently modified their holdings of MNST. Norges Bank purchased a new position in shares of Monster Beverage in the 4th quarter worth about $442,642,000. CIBC Private Wealth Group LLC boosted its stake in Monster Beverage by 659.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company’s stock worth $251,445,000 after buying an additional 4,231,063 shares in the last quarter. Montrusco Bolton Investments Inc. grew its position in Monster Beverage by 250.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock valued at $178,801,000 after acquiring an additional 2,480,291 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Monster Beverage during the fourth quarter worth approximately $121,575,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Monster Beverage in the 4th quarter worth approximately $106,882,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 1.3%

MNST stock opened at $61.00 on Thursday. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $62.46. The company has a market capitalization of $59.49 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 2.28 and a beta of 0.63. The business’s 50 day moving average price is $58.21 and its two-hundred day moving average price is $54.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Roth Capital lifted their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America raised their price objective on Monster Beverage from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Wells Fargo & Company increased their target price on Monster Beverage from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, May 5th. UBS Group lifted their price target on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, Citigroup increased their price objective on Monster Beverage from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.50.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares of the company’s stock, valued at approximately $4,220,011.38. This represents a 54.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the transaction, the chief financial officer now directly owns 72,273 shares of the company’s stock, valued at approximately $3,994,528.71. This represents a 12.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,316 shares of company stock worth $11,484,440. 8.30% of the stock is currently owned by company insiders.

About Monster Beverage

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.