BI Asset Management Fondsmaeglerselskab A S Acquires 88,893 Shares of Monster Beverage Corporation $MNST

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 37.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 324,591 shares of the company’s stock after purchasing an additional 88,893 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Monster Beverage were worth $23,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MNST. Vanguard Group Inc. increased its position in Monster Beverage by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company’s stock worth $5,212,080,000 after buying an additional 497,108 shares during the period. State Street Corp boosted its position in shares of Monster Beverage by 0.8% in the fourth quarter. State Street Corp now owns 38,021,648 shares of the company’s stock valued at $2,915,120,000 after acquiring an additional 302,557 shares during the period. Geode Capital Management LLC boosted its position in shares of Monster Beverage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 19,625,097 shares of the company’s stock valued at $1,509,369,000 after acquiring an additional 330,766 shares during the period. Invesco Ltd. grew its stake in shares of Monster Beverage by 6.3% in the third quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock worth $785,885,000 after acquiring an additional 692,192 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Monster Beverage by 18.4% in the fourth quarter. Schroder Investment Management Group now owns 9,676,260 shares of the company’s stock worth $741,879,000 after acquiring an additional 1,500,577 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In other news, CEO Guy Carling sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the completion of the transaction, the chief executive officer directly owned 21,863 shares of the company’s stock, valued at approximately $1,987,346.70. This trade represents a 46.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Emelie Tirre sold 88,700 shares of Monster Beverage stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the sale, the insider owned 81,763 shares in the company, valued at approximately $7,028,347.48. This trade represents a 52.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 178,700 shares of company stock valued at $15,457,562 over the last quarter. 8.10% of the stock is currently owned by insiders.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $91.34 on Friday. The firm has a market capitalization of $89.33 billion, a price-to-earnings ratio of 44.13, a PEG ratio of 3.01 and a beta of 0.54. Monster Beverage Corporation has a one year low of $58.09 and a one year high of $93.92. The business has a fifty day simple moving average of $84.04 and a 200 day simple moving average of $79.87.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, research analysts anticipate that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.

Monster Beverage announced that its board has authorized a stock repurchase plan on Friday, May 15th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

MNST has been the subject of several research analyst reports. UBS Group reiterated a “neutral” rating and set a $84.00 target price (up from $80.00) on shares of Monster Beverage in a research note on Friday, May 8th. Citigroup raised their price target on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. TD Cowen dropped their price objective on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 20th. Stifel Nicolaus cut their price objective on shares of Monster Beverage from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada increased their target price on shares of Monster Beverage from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.35.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.