Monster Beverage Co. (NASDAQ:MNST) Shares Bought by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,098 shares of the company’s stock after buying an additional 778 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Monster Beverage were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MNST. Freedom Wealth Alliance LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $25,000. Peoples Bank KS acquired a new stake in shares of Monster Beverage in the third quarter valued at approximately $26,000. Resurgent Financial Advisors LLC purchased a new position in shares of Monster Beverage during the fourth quarter valued at approximately $26,000. Ancora Advisors LLC purchased a new position in shares of Monster Beverage during the first quarter valued at approximately $27,000. Finally, Quarry LP lifted its stake in shares of Monster Beverage by 276.1% during the first quarter. Quarry LP now owns 504 shares of the company’s stock valued at $27,000 after buying an additional 370 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on MNST shares. Redburn Atlantic started coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They set a “buy” rating on the stock. Royal Bank of Canada increased their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. The Goldman Sachs Group increased their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. HSBC cut their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Finally, Citigroup increased their price target on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.55.

Monster Beverage Stock Performance

Shares of NASDAQ MNST traded up $0.08 during midday trading on Friday, hitting $59.28. The company’s stock had a trading volume of 4,469,662 shares, compared to its average volume of 4,570,361. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $61.22. The firm’s fifty day moving average price is $57.33 and its 200-day moving average price is $55.46. The firm has a market cap of $61.69 billion, a P/E ratio of 38.25, a P/E/G ratio of 2.29 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. Monster Beverage’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $0.28 EPS. As a group, research analysts predict that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.40% of the stock is currently owned by insiders.

Monster Beverage Company 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.