Point72 Asset Management L.P. Makes New Investment in Monster Beverage Co. (NASDAQ:MNST)

Point72 Asset Management L.P. acquired a new position in Monster Beverage Co. (NASDAQ:MNST) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 802,219 shares of the company’s stock, valued at approximately $42,165,000. Point72 Asset Management L.P. owned 0.08% of Monster Beverage as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MNST. Fifth Third Wealth Advisors LLC raised its position in shares of Monster Beverage by 11.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 14,196 shares of the company’s stock worth $746,000 after acquiring an additional 1,508 shares during the period. Park Avenue Securities LLC increased its position in shares of Monster Beverage by 2.7% in the fourth quarter. Park Avenue Securities LLC now owns 18,470 shares of the company’s stock valued at $971,000 after buying an additional 486 shares in the last quarter. Outlook Wealth Advisors LLC increased its position in shares of Monster Beverage by 19.7% in the fourth quarter. Outlook Wealth Advisors LLC now owns 8,036 shares of the company’s stock valued at $422,000 after buying an additional 1,322 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of Monster Beverage by 2.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 448,712 shares of the company’s stock valued at $23,584,000 after buying an additional 9,015 shares in the last quarter. Finally, Channel Wealth LLC increased its position in shares of Monster Beverage by 7.6% in the fourth quarter. Channel Wealth LLC now owns 12,683 shares of the company’s stock valued at $667,000 after buying an additional 891 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 2.2%

Shares of NASDAQ:MNST opened at $62.33 on Friday. The business has a 50-day moving average price of $58.34 and a 200 day moving average price of $54.17. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $60.78 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $62.46.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. Sell-side analysts expect that Monster Beverage Co. will post 1.62 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark J. Hall sold 48,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $54.89, for a total transaction of $2,634,720.00. Following the sale, the director now directly owns 296,846 shares of the company’s stock, valued at $16,293,876.94. This represents a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares in the company, valued at approximately $4,220,011.38. The trade was a 54.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,316 shares of company stock valued at $11,484,440. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MNST shares. Needham & Company LLC reiterated a “hold” rating on shares of Monster Beverage in a research report on Friday, February 28th. Jefferies Financial Group lifted their target price on shares of Monster Beverage from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. raised their target price on Monster Beverage from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Piper Sandler raised their target price on Monster Beverage from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, CICC Research upgraded Monster Beverage from a “market perform” rating to an “outperform” rating and raised their target price for the company from $56.00 to $65.00 in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued 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 price target of $60.50.

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.