18,123 Shares in Monster Beverage Co. (NASDAQ:MNST) Purchased by Wahed Invest LLC

Wahed Invest LLC bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,123 shares of the company’s stock, valued at approximately $953,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Monster Beverage in the fourth quarter worth about $442,642,000. CIBC Private Wealth Group LLC boosted its holdings in Monster Beverage by 659.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company’s stock worth $251,445,000 after purchasing an additional 4,231,063 shares during the last quarter. Montrusco Bolton Investments Inc. grew its holdings in shares of Monster Beverage by 250.9% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock valued at $178,801,000 after acquiring an additional 2,480,291 shares in the last quarter. Champlain Investment Partners LLC bought a new position in Monster Beverage in the fourth quarter valued at approximately $121,575,000. Finally, Raymond James Financial Inc. acquired a new position in Monster Beverage during the fourth quarter worth $106,882,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark J. Hall sold 12,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.50, for a total transaction of $654,000.00. Following the transaction, the director now directly owns 296,846 shares in the company, valued at approximately $16,178,107. This represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of Monster Beverage stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the completion of the transaction, the insider now owns 76,201 shares in the company, valued at $4,220,011.38. The trade was a 54.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock worth $11,484,440 over the last three months. Insiders own 7.80% of the company’s stock.

Monster Beverage Stock Down 1.0 %

MNST opened at $59.52 on Friday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $60.34. The company has a market cap of $57.92 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. The company has a 50-day moving average price of $57.03 and a 200 day moving average price of $53.67.

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

Analysts Set New Price Targets

Several research firms have weighed in on MNST. Wells Fargo & Company increased their price objective on Monster Beverage from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price objective on shares of Monster Beverage from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Morgan Stanley lifted their price target on Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Bank of America boosted their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, Truist Financial boosted their price target on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.39.

About Monster Beverage

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.