KLP Kapitalforvaltning AS Buys New Stake in Monster Beverage Co. (NASDAQ:MNST)

KLP Kapitalforvaltning AS bought a new stake in Monster Beverage Co. (NASDAQ:MNST) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 279,994 shares of the company’s stock, valued at approximately $14,716,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MNST. Janus Henderson Group PLC lifted its stake in Monster Beverage by 109.3% in the 3rd quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after buying an additional 11,779,162 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its stake in 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 buying an additional 2,480,291 shares in the last quarter. State Street Corp lifted its stake in Monster Beverage by 6.9% in the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock valued at $1,760,341,000 after buying an additional 2,168,379 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Monster Beverage in the 4th quarter valued at approximately $106,882,000. Finally, Holocene Advisors LP purchased a new stake in Monster Beverage in the 3rd quarter valued at approximately $73,600,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $57.31 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The firm has a 50-day moving average of $51.36 and a two-hundred day moving average of $52.11. The stock has a market cap of $55.77 billion, a P/E ratio of 36.74, a PEG ratio of 2.28 and a beta of 0.71. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $60.13.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data 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 firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. On average, research analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the company’s stock in a transaction dated 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 directly owns 76,201 shares of the company’s stock, valued at $4,220,011.38. This represents a 54.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Guy Carling sold 47,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.02, for a total transaction 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. The trade was a 68.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock valued at $11,484,440 in the last ninety days. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MNST shares. Citigroup upped their target price on Monster Beverage from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft increased their price target on Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Needham & Company LLC reissued a “hold” rating on shares of Monster Beverage in a research note on Friday, February 28th. Morgan Stanley increased their price target on Monster Beverage from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, BNP Paribas reduced their price target on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a research note on Thursday, December 19th. 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 has an average rating of “Hold” and an average target price 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.