Banque Cantonale Vaudoise Grows Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Banque Cantonale Vaudoise raised its position in Monster Beverage Co. (NASDAQ:MNSTGet Rating) by 78.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,064 shares of the company’s stock after acquiring an additional 10,616 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Monster Beverage were worth $1,923,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Monster Beverage during the fourth quarter valued at about $316,325,000. Capital World Investors increased its position in shares of Monster Beverage by 43.8% during the fourth quarter. Capital World Investors now owns 5,341,329 shares of the company’s stock valued at $512,981,000 after buying an additional 1,626,751 shares during the period. Suvretta Capital Management LLC purchased a new position in shares of Monster Beverage during the fourth quarter valued at about $109,841,000. Marshall Wace LLP increased its position in shares of Monster Beverage by 336.1% during the fourth quarter. Marshall Wace LLP now owns 1,109,613 shares of the company’s stock valued at $106,567,000 after buying an additional 855,191 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Monster Beverage by 243.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,032,299 shares of the company’s stock valued at $99,142,000 after buying an additional 731,748 shares during the period. Hedge funds and other institutional investors own 63.44% of the company’s stock.

Monster Beverage Trading Down 5.2 %

Shares of MNST stock opened at $91.38 on Friday. Monster Beverage Co. has a 12 month low of $71.78 and a 12 month high of $99.89. The stock has a market cap of $48.40 billion, a P/E ratio of 39.90, a P/E/G ratio of 2.42 and a beta of 0.92. The company has a 50 day simple moving average of $93.33 and a two-hundred day simple moving average of $86.75.

Monster Beverage (NASDAQ:MNSTGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.19). The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Monster Beverage had a net margin of 20.40% and a return on equity of 18.69%. The business’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities analysts forecast that Monster Beverage Co. will post 2.67 earnings per share for the current year.

Insider Buying and Selling at Monster Beverage

In other news, insider Guy Carling sold 26,299 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $90.73, for a total value of $2,386,108.27. Following the completion of the sale, the insider now owns 25,901 shares in the company, valued at approximately $2,349,997.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Monster Beverage news, insider Guy Carling sold 26,299 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $90.73, for a total transaction of $2,386,108.27. Following the transaction, the insider now owns 25,901 shares of the company’s stock, valued at approximately $2,349,997.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 40,729 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $88.06, for a total transaction of $3,586,595.74. Following the transaction, the insider now directly owns 19,526 shares in the company, valued at approximately $1,719,459.56. The disclosure for this sale can be found here. Insiders sold 117,028 shares of company stock worth $10,522,704 over the last 90 days. 10.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MNST. Royal Bank of Canada reduced their price target on shares of Monster Beverage from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Friday. Sanford C. Bernstein upgraded shares of Monster Beverage from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $97.00 to $110.00 in a research report on Wednesday, May 18th. BMO Capital Markets boosted their price objective on shares of Monster Beverage from $90.00 to $95.00 in a research note on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $109.00 to $107.00 in a research note on Friday. Finally, Morgan Stanley boosted their price objective on shares of Monster Beverage from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Monday, June 6th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.40.

About Monster Beverage

(Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

Further Reading

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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