Candriam Luxembourg S.C.A. reduced its position in Monster Beverage Corp (NASDAQ:MNST) by 31.2% in the first quarter, HoldingsChannel.com reports. The fund owned 184,998 shares of the company’s stock after selling 83,773 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Monster Beverage were worth $10,098,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in Monster Beverage by 4,494.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock valued at $94,000 after purchasing an additional 4,519,673 shares during the last quarter. Norges Bank bought a new stake in Monster Beverage during the fourth quarter valued at approximately $209,565,000. Thrivent Financial for Lutherans lifted its position in Monster Beverage by 1,288.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,147,995 shares of the company’s stock valued at $105,724,000 after purchasing an additional 1,993,335 shares during the last quarter. USS Investment Management Ltd bought a new stake in Monster Beverage during the fourth quarter valued at approximately $94,311,000. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Monster Beverage by 246.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,788,515 shares of the company’s stock valued at $88,031,000 after purchasing an additional 1,272,161 shares during the last quarter. Institutional investors own 65.46% of the company’s stock.
MNST stock opened at $61.68 on Thursday. The company has a market cap of $33.41 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 2.21 and a beta of 1.53. Monster Beverage Corp has a one year low of $47.61 and a one year high of $66.38.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.43 by $0.05. The firm had revenue of $946.00 million for the quarter, compared to the consensus estimate of $919.49 million. Monster Beverage had a net margin of 26.61% and a return on equity of 28.35%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. As a group, sell-side analysts predict that Monster Beverage Corp will post 2.01 EPS for the current fiscal year.
In related news, EVP Thomas J. Kelly sold 25,719 shares of Monster Beverage stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $59.68, for a total value of $1,534,909.92. Following the transaction, the executive vice president now directly owns 35,370 shares of the company’s stock, valued at $2,110,881.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Emelie Tirre sold 24,762 shares of Monster Beverage stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $62.97, for a total transaction of $1,559,263.14. Following the completion of the transaction, the insider now directly owns 77,363 shares in the company, valued at $4,871,548.11. The disclosure for this sale can be found here. Insiders have sold 62,253 shares of company stock worth $3,842,637 over the last three months. Insiders own 9.70% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. UBS Group set a $52.00 target price on shares of Monster Beverage and gave the company a “sell” rating in a research report on Thursday, February 28th. BMO Capital Markets lifted their target price on shares of Monster Beverage from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. Jefferies Financial Group lifted their price target on shares of Monster Beverage from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Credit Suisse Group set a $77.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Monster Beverage currently has a consensus rating of “Hold” and an average target price of $63.03.
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Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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