TD Asset Management Inc. Sells 346,717 Shares of Monster Beverage Co. (NASDAQ:MNST)

TD Asset Management Inc. lessened its position in Monster Beverage Co. (NASDAQ:MNST) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,219,079 shares of the company’s stock after selling 346,717 shares during the period. TD Asset Management Inc. owned about 0.43% of Monster Beverage worth $221,755,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in shares of Monster Beverage by 109.3% during the 3rd quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock worth $1,176,913,000 after acquiring an additional 11,779,162 shares during the last quarter. Montrusco Bolton Investments Inc. increased its holdings in shares of Monster Beverage by 250.9% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock valued at $178,801,000 after purchasing an additional 2,480,291 shares during the last quarter. State Street Corp raised its position in shares of Monster Beverage by 6.9% in the third quarter. State Street Corp now owns 33,742,390 shares of the company’s stock valued at $1,760,341,000 after purchasing an additional 2,168,379 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $106,882,000. Finally, Holocene Advisors LP bought a new stake in shares of Monster Beverage during the 3rd quarter worth about $73,600,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $57.84 on Wednesday. The company’s 50 day simple moving average is $51.67 and its 200 day simple moving average is $52.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $60.13. The stock has a market capitalization of $56.29 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. As a group, research analysts predict that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MNST. UBS Group increased their price target on shares of Monster Beverage from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 price target on shares of Monster Beverage in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on Monster Beverage from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on Monster Beverage from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Finally, Morgan Stanley boosted their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.83.

Insiders Place Their Bets

In other news, insider Guy Carling sold 47,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.02, for a total value of $2,585,940.00. Following the completion of the transaction, the insider now directly owns 21,993 shares in the company, valued at approximately $1,210,054.86. This represents a 68.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 12,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the sale, the director now owns 296,846 shares in the company, valued at $16,178,107. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,316 shares of company stock valued at $11,484,440. 7.80% of the stock is currently owned by corporate 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.