Allstate Corp Takes Position in Monster Beverage Co. (NASDAQ:MNST)

Allstate Corp purchased a new stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,501 shares of the company's stock, valued at approximately $1,130,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock valued at $28,000 after purchasing an additional 203 shares during the period. Spire Wealth Management purchased a new stake in Monster Beverage in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $31,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Monster Beverage during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock traded down $2.57 on Friday, hitting $57.08. The company's stock had a trading volume of 10,386,288 shares, compared to its average volume of 7,010,486. The company has a market capitalization of $55.55 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.66. The firm has a fifty day moving average price of $53.17 and a 200-day moving average price of $52.67. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

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Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. On average, equities research analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MNST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company increased their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday. BNP Paribas dropped their price target on Monster Beverage from $46.00 to $45.00 and set an "underperform" rating on the stock in a research report on Thursday, December 19th. Citigroup increased their price objective on Monster Beverage from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Monster Beverage in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.11.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the transaction, the chief financial officer now directly owns 72,273 shares in the company, valued at approximately $3,994,528.71. This represents a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emelie Tirre sold 91,316 shares of the firm's stock in a transaction dated 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 $4,220,011.38. This represents a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,316 shares of company stock worth $11,484,440. 7.80% of the stock is owned by insiders.

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.