Cinctive Capital Management LP Takes Position in Monster Beverage Co. (NASDAQ:MNST)

Cinctive Capital Management LP purchased a new position in Monster Beverage Co. (NASDAQ:MNST - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,833 shares of the company's stock, valued at approximately $1,463,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. Migdal Insurance & Financial Holdings Ltd. lifted its stake 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 in the last quarter. Spire Wealth Management acquired a new position in Monster Beverage during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in Monster Beverage during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in Monster Beverage during the fourth quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Monster Beverage in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MNST. Royal Bank of Canada reaffirmed an "outperform" rating and set a $59.00 price target on shares of Monster Beverage in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their target price on Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. UBS Group upped their price target on Monster Beverage from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Morgan Stanley lifted their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Finally, Citigroup boosted their target price on shares of Monster Beverage from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of "Hold" and a consensus target price of $56.11.

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Monster Beverage Stock Performance

Shares of NASDAQ:MNST traded up $3.24 on Wednesday, reaching $58.25. 10,000,578 shares of the company's stock were exchanged, compared to its average volume of 7,114,856. The firm has a market capitalization of $56.69 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.28 and a beta of 0.64. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $60.34. The business's 50-day moving average is $53.94 and its two-hundred day moving average is $52.84. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.80 billion. As a group, equities research analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current year.

Insider Buying and Selling

In other news, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction that occurred 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 owns 76,201 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Guy Carling sold 47,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.02, for a total value of $2,585,940.00. Following the transaction, the insider now owns 21,993 shares of the company's stock, valued at approximately $1,210,054.86. This represents a 68.12 % 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 valued at $11,484,440. Insiders own 7.80% of the company's stock.

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.