Mackenzie Financial Corp increased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 273.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,297 shares of the company’s stock after acquiring an additional 14,125 shares during the quarter. Mackenzie Financial Corp’s holdings in Monster Beverage were worth $1,221,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Commerce Bank acquired a new position in shares of Monster Beverage in the 4th quarter valued at $293,000. Hudson Bay Capital Management LP acquired a new position in shares of Monster Beverage in the 4th quarter valued at $2,553,000. Carillon Tower Advisers Inc. acquired a new position in shares of Monster Beverage in the 4th quarter valued at $46,585,000. Standard Life Aberdeen plc boosted its holdings in shares of Monster Beverage by 4.9% in the 4th quarter. Standard Life Aberdeen plc now owns 76,354 shares of the company’s stock valued at $4,834,000 after purchasing an additional 3,573 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its holdings in shares of Monster Beverage by 604.0% in the 4th quarter. State of Tennessee Treasury Department now owns 1,068,925 shares of the company’s stock valued at $67,652,000 after purchasing an additional 917,095 shares during the last quarter. Hedge funds and other institutional investors own 64.97% of the company’s stock.
In related news, Chairman Rodney C. Sacks sold 898 shares of Monster Beverage stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $57,929.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Rodney C. Sacks sold 189,861 shares of Monster Beverage stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $63.92, for a total transaction of $12,135,915.12. The disclosure for this sale can be found here. Insiders have sold a total of 275,796 shares of company stock worth $17,615,686 in the last ninety days. 9.40% of the stock is currently owned by insiders.
Monster Beverage Co. (NASDAQ:MNST) opened at $58.06 on Friday. Monster Beverage Co. has a one year low of $44.35 and a one year high of $70.21. The company has a market cap of $32,885.36, a price-to-earnings ratio of 39.50, a PEG ratio of 1.76 and a beta of 1.14.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Monster Beverage had a return on equity of 22.54% and a net margin of 24.36%. The firm had revenue of $810.40 million for the quarter, compared to analysts’ expectations of $841.25 million. During the same period last year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. analysts anticipate that Monster Beverage Co. will post 1.78 earnings per share for the current year.
Monster Beverage announced that its board has initiated a stock buyback program on Thursday, March 1st that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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Monster Beverage 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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