Nomura Asset Management Co. Ltd. boosted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,972 shares of the company’s stock after purchasing an additional 3,086 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Monster Beverage were worth $4,618,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MNST. Blue Sky Asset Management LLC acquired a new stake in Monster Beverage during the 4th quarter valued at $123,000. Bessemer Group Inc. grew its holdings in Monster Beverage by 397.6% during the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after purchasing an additional 2,143 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Monster Beverage during the 4th quarter valued at $166,000. Valeo Financial Advisors LLC acquired a new stake in Monster Beverage during the 3rd quarter valued at $169,000. Finally, FDx Advisors Inc. acquired a new stake in Monster Beverage during the 4th quarter valued at $216,000. 65.26% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Co. (NASDAQ:MNST) opened at $58.43 on Tuesday. Monster Beverage Co. has a 52 week low of $44.35 and a 52 week high of $70.21. The company has a market cap of $32,885.35, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14.
Monster Beverage declared that its board has initiated a share buyback program on Thursday, March 1st that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Chairman Rodney C. Sacks sold 62,386 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total value of $4,025,768.58. Following the transaction, the chairman now directly owns 949,806 shares in the company, valued at approximately $61,290,981.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Hilton H. Schlosberg sold 13,983 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $64.53, for a total transaction of $902,322.99. Following the completion of the transaction, the insider now owns 967,456 shares in the company, valued at $62,429,935.68. 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 over the last quarter. 9.40% of the stock is currently owned by insiders.
A number of equities research analysts recently weighed in on the stock. Citigroup set a $70.00 price target on shares of Monster Beverage and gave the company a “buy” rating in a report on Monday, March 5th. Zacks Investment Research lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 5th. BidaskClub lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Deutsche Bank lowered their price target on shares of Monster Beverage from $66.00 to $63.00 and set a “hold” rating for the company in a report on Thursday, March 1st. Finally, Morgan Stanley lowered their price target on shares of Monster Beverage from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $65.29.
About Monster Beverage
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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