Norges Bank Takes Position in Monster Beverage Co. (NASDAQ:MNST)

Norges Bank bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 8,421,643 shares of the company’s stock, valued at approximately $442,642,000. Norges Bank owned about 0.87% of Monster Beverage at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caisse Des Depots ET Consignations purchased a new position in shares of Monster Beverage in the 4th quarter valued at approximately $3,754,000. NEOS Investment Management LLC increased its stake in Monster Beverage by 22.4% during the 4th quarter. NEOS Investment Management LLC now owns 112,698 shares of the company’s stock valued at $5,923,000 after purchasing an additional 20,619 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of Monster Beverage by 25.9% in the fourth quarter. UniSuper Management Pty Ltd now owns 64,336 shares of the company’s stock worth $3,382,000 after buying an additional 13,246 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Monster Beverage by 7.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,218,312 shares of the company’s stock worth $63,827,000 after buying an additional 89,049 shares during the period. Finally, UNIVEST FINANCIAL Corp grew its holdings in shares of Monster Beverage by 10.4% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 69,346 shares of the company’s stock valued at $3,645,000 after buying an additional 6,520 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 76,201 shares of the company’s stock, valued at approximately $4,220,011.38. This trade represents a 54.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Guy Carling sold 47,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.02, for a total value of $2,585,940.00. Following the transaction, the insider now directly owns 21,993 shares in the company, valued at $1,210,054.86. This trade represents a 68.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,316 shares of company stock worth $11,484,440. 7.80% of the stock is owned by insiders.

Monster Beverage Trading Down 1.2 %

Shares of MNST stock opened at $57.86 on Friday. The stock has a 50 day simple moving average of $52.19 and a 200-day simple moving average of $52.38. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $59.56. The company has a market cap of $56.31 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. On average, equities research analysts expect that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on MNST shares. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 price target on shares of Monster Beverage in a research note on Wednesday, January 22nd. UBS Group upped their target price on Monster Beverage from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. BNP Paribas cut their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective 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, Morgan Stanley increased their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.83.

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.