Fmr LLC Has $977.60 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

FMR LLC trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,599,776 shares of the company's stock after selling 3,582,203 shares during the quarter. FMR LLC owned about 1.91% of Monster Beverage worth $977,604,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MNST. Federated Hermes Inc. grew its stake in Monster Beverage by 37.9% in the 4th quarter. Federated Hermes Inc. now owns 5,094 shares of the company's stock valued at $268,000 after buying an additional 1,399 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in Monster Beverage by 67.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 10,168 shares of the company's stock valued at $534,000 after acquiring an additional 4,104 shares during the period. Russell Investments Group Ltd. grew its position in shares of Monster Beverage by 49.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,119,492 shares of the company's stock valued at $58,840,000 after purchasing an additional 372,880 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Monster Beverage in the fourth quarter worth about $11,387,000. Finally, Prudential PLC lifted its position in shares of Monster Beverage by 23.5% during the 4th quarter. Prudential PLC now owns 78,521 shares of the company's stock worth $4,127,000 after purchasing an additional 14,944 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Remove Ads

Insider Activity

In other news, CFO Thomas J. Kelly sold 10,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were 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 owns 72,273 shares of the company's stock, valued at $3,994,528.71. The trade was a 12.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of the firm's 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 in the company, valued at $4,220,011.38. The trade was a 54.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock valued at $11,484,440 in the last ninety days. 7.80% of the stock is owned by insiders.

Analysts Set New Price Targets

MNST has been the topic of several recent analyst reports. 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. Morgan Stanley lifted their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Wells Fargo & Company increased their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Finally, UBS Group increased their target price on shares of Monster Beverage from $53.00 to $57.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $56.11.

Monster Beverage Trading Up 0.7 %

Shares of NASDAQ MNST traded up $0.38 during mid-day trading on Friday, hitting $58.15. The company's stock had a trading volume of 5,655,756 shares, compared to its average volume of 7,123,586. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The stock has a market cap of $56.59 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. The company's fifty day simple moving average is $54.38 and its 200-day simple moving average is $52.93. Monster Beverage Co. has a one year low of $43.32 and a one year high of $60.34.

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

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.