Connor Clark & Lunn Investment Management Ltd. increased its holdings in Monster Beverage Corp (NASDAQ:MNST) by 115.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,400 shares of the company’s stock after purchasing an additional 12,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Monster Beverage were worth $1,103,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Monster Beverage by 4.2% in the 4th quarter. BlackRock Inc. now owns 25,120,708 shares of the company’s stock worth $1,236,441,000 after purchasing an additional 1,009,563 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Monster Beverage by 1.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 24,002,010 shares of the company’s stock worth $1,398,837,000 after purchasing an additional 347,332 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Monster Beverage by 47.2% in the 3rd quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock worth $720,297,000 after purchasing an additional 3,961,104 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Monster Beverage by 1.0% in the 4th quarter. Northern Trust Corp now owns 4,759,064 shares of the company’s stock worth $234,241,000 after purchasing an additional 48,167 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Monster Beverage by 4,494.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock worth $94,000 after purchasing an additional 4,519,673 shares in the last quarter. Institutional investors and hedge funds own 64.18% of the company’s stock.
In related news, insider Emelie Tirre sold 24,762 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $62.97, for a total transaction of $1,559,263.14. Following the transaction, the insider now directly owns 77,363 shares of the company’s stock, valued at $4,871,548.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harold C. Taber, Jr. sold 11,772 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.58, for a total transaction of $748,463.76. Following the transaction, the director now directly owns 72,240 shares in the company, valued at $4,593,019.20. The disclosure for this sale can be found here. 9.70% of the stock is owned by insiders.
MNST stock opened at $60.27 on Friday. Monster Beverage Corp has a 52-week low of $47.61 and a 52-week high of $66.38. The company has a market cap of $32.41 billion, a PE ratio of 33.67, a PEG ratio of 1.90 and a beta of 1.55.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results 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. Monster Beverage had a net margin of 26.08% and a return on equity of 26.96%. The business had revenue of $924.23 million for the quarter, compared to analyst estimates of $907.75 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. Analysts forecast that Monster Beverage Corp will post 2.04 EPS for the current fiscal year.
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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