KLP Kapitalforvaltning AS Buys New Shares in Monster Beverage Co. (NASDAQ:MNST)

KLP Kapitalforvaltning AS bought a new stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 279,994 shares of the company's stock, valued at approximately $14,716,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Monster Beverage by 62.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after buying an additional 203 shares during the last quarter. Spire Wealth Management purchased a new stake in Monster Beverage during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new stake in Monster Beverage during the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC purchased a new stake in Monster Beverage during the 4th quarter worth about $30,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Monster Beverage during the 4th quarter worth about $33,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MNST. Needham & Company LLC reaffirmed a "hold" rating on shares of Monster Beverage in a report on Friday, February 28th. BNP Paribas decreased their price target on Monster Beverage from $46.00 to $45.00 and set an "underperform" rating for the company in a report on Thursday, December 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $59.00 price target on shares of Monster Beverage in a report on Wednesday, January 22nd. UBS Group lifted their target price on Monster Beverage from $53.00 to $57.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Monster Beverage from $51.00 to $53.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $55.83.

Remove Ads

Monster Beverage Stock Performance

Shares of MNST stock opened at $57.31 on Monday. The stock has a market capitalization of $55.77 billion, a PE ratio of 36.74, 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 $60.13. The stock's 50-day moving average price is $51.36 and its 200 day moving average price is $52.11. 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 released its 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 return on equity of 23.31% and a net margin of 21.66%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. As a group, equities research analysts forecast that Monster Beverage Co. will post 1.62 EPS for the current year.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the business's 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 transaction, the insider now owns 76,201 shares in the company, valued at approximately $4,220,011.38. The trade was a 54.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark J. Hall sold 48,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $54.89, for a total value of $2,634,720.00. Following the transaction, the director now owns 296,846 shares in the company, valued at $16,293,876.94. The trade was a 13.92 % decrease in their position. 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. Company insiders own 7.80% of the company's stock.

Monster Beverage 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.