Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp reduced its holdings in Monster Beverage Corp (NASDAQ:MNST) by 67.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,200 shares of the company’s stock after selling 49,300 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Monster Beverage were worth $1,191,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Berman Capital Advisors LLC bought a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $33,000. Baystate Wealth Management LLC boosted its position in shares of Monster Beverage by 555.6% during the fourth quarter. Baystate Wealth Management LLC now owns 708 shares of the company’s stock valued at $39,000 after purchasing an additional 600 shares in the last quarter. Rockland Trust Co. bought a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $49,000. Financial Gravity Companies Inc. bought a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $56,000. Finally, Bessemer Group Inc. boosted its position in shares of Monster Beverage by 18.1% during the fourth quarter. Bessemer Group Inc. now owns 1,277 shares of the company’s stock valued at $62,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 66.06% of the company’s stock.
In other news, EVP Thomas J. Kelly sold 25,719 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $59.68, for a total value of $1,534,909.92. Following the completion of the transaction, the executive vice president now owns 35,370 shares in the company, valued at $2,110,881.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harold C. Taber, Jr. sold 11,772 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.58, for a total value of $748,463.76. Following the completion of the transaction, the director now owns 72,240 shares of the company’s stock, valued at approximately $4,593,019.20. The disclosure for this sale can be found here. Insiders have sold 62,253 shares of company stock valued at $3,842,637 in the last quarter. 9.70% of the stock is owned by company insiders.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, February 27th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. The business had revenue of $924.23 million during the quarter, compared to analysts’ expectations of $907.75 million. Monster Beverage had a return on equity of 26.96% and a net margin of 26.08%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, equities research analysts forecast that Monster Beverage Corp will post 2.04 EPS for the current fiscal year.
MNST has been the topic of several research reports. BidaskClub lowered Monster Beverage from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. SunTrust Banks lifted their price target on Monster Beverage to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 28th. Jefferies Financial Group restated a “buy” rating and set a $71.00 price target on shares of Monster Beverage in a research report on Friday, January 18th. Citigroup restated a “buy” rating and set a $72.00 price target on shares of Monster Beverage in a research report on Thursday, February 28th. Finally, Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, November 27th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $63.53.
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About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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