iA Global Asset Management Inc. Has $11.59 Million Stock Position in Monster Beverage Corporation $MNST

iA Global Asset Management Inc. increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 172,176 shares of the company’s stock after purchasing an additional 14,795 shares during the quarter. iA Global Asset Management Inc.’s holdings in Monster Beverage were worth $11,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in shares of Monster Beverage by 397.9% during the 1st quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after acquiring an additional 12,148 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Monster Beverage by 247.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after acquiring an additional 9,251 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Monster Beverage by 0.8% during the second quarter. Fifth Third Bancorp now owns 268,371 shares of the company’s stock worth $16,811,000 after purchasing an additional 2,023 shares during the last quarter. Norden Group LLC increased its position in Monster Beverage by 85.2% in the 2nd quarter. Norden Group LLC now owns 7,958 shares of the company’s stock valued at $498,000 after acquiring an additional 3,661 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of Monster Beverage by 31.0% during the second quarter. Ballentine Partners LLC now owns 7,332 shares of the company’s stock valued at $459,000 after acquiring an additional 1,736 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Activity at Monster Beverage

In related news, insider Guy Carling sold 38,438 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider directly owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This represents a 63.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rodney C. Sacks sold 206,543 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 274,981 shares of company stock valued at $20,138,516. 8.30% of the stock is owned by insiders.

Monster Beverage Stock Down 0.9%

Shares of NASDAQ:MNST opened at $80.89 on Friday. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $81.81. The stock’s 50 day moving average is $75.73 and its 200-day moving average is $68.41. The firm has a market capitalization of $79.03 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.13 and a beta of 0.46.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Equities research analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MNST shares. JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Evercore ISI raised their price objective on Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Zacks Research cut Monster Beverage from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. BMO Capital Markets restated a “market perform” rating and issued a $73.00 price target (up previously from $53.00) on shares of Monster Beverage in a research report on Wednesday, December 3rd. Finally, Piper Sandler set a $85.00 price objective on shares of Monster Beverage in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $76.62.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.