Deutsche Bank AG boosted its stake in Monster Beverage Co. (NASDAQ:MNST) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,243,921 shares of the company’s stock after purchasing an additional 36,607 shares during the period. Deutsche Bank AG owned about 0.22% of Monster Beverage worth $78,722,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its position in Monster Beverage by 8.0% during the third quarter. Daiwa Securities Group Inc. now owns 21,108 shares of the company’s stock valued at $1,166,000 after acquiring an additional 1,558 shares during the last quarter. Principal Financial Group Inc. boosted its position in Monster Beverage by 11.1% during the third quarter. Principal Financial Group Inc. now owns 682,320 shares of the company’s stock valued at $37,698,000 after acquiring an additional 68,338 shares during the last quarter. Bessemer Group Inc. boosted its position in Monster Beverage by 397.6% during the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after acquiring an additional 2,143 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Monster Beverage by 9.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 24,006 shares of the company’s stock valued at $1,326,000 after acquiring an additional 2,110 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in Monster Beverage by 14.7% during the third quarter. Toronto Dominion Bank now owns 156,599 shares of the company’s stock valued at $8,651,000 after acquiring an additional 20,070 shares during the last quarter. Institutional investors and hedge funds own 65.26% of the company’s stock.
Monster Beverage Co. (MNST) opened at $58.43 on Tuesday. Monster Beverage Co. has a 1 year low of $44.35 and a 1 year high of $70.21. The firm has a market cap of $32,885.35, a PE ratio of 39.50, a P/E/G ratio of 1.76 and a beta of 1.14.
Monster Beverage announced that its board has approved a stock buyback plan on Thursday, March 1st that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of analysts have commented on the stock. BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Susquehanna Bancshares reaffirmed a “sell” rating and set a $56.00 price target on shares of Monster Beverage in a research report on Thursday, January 18th. BMO Capital Markets increased their price objective on shares of Monster Beverage to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Cowen reissued a “buy” rating and set a $77.00 price objective on shares of Monster Beverage in a research report on Monday, January 22nd. Finally, Zacks Investment Research raised shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.29.
In related news, Chairman Rodney C. Sacks sold 189,861 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $63.92, for a total value of $12,135,915.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rodney C. Sacks sold 697 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $44,963.47. Following the completion of the transaction, the chief executive officer now directly owns 963,789 shares in the company, valued at approximately $62,174,028.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,796 shares of company stock worth $17,615,686. 9.40% of the stock is owned by insiders.
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Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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