Allstate Corp Makes New Investment in Monster Beverage Co. (NASDAQ:MNST)

Allstate Corp bought a new position in Monster Beverage Co. (NASDAQ:MNST) during the fourth quarter, HoldingsChannel.com reports. The fund bought 21,501 shares of the company’s stock, valued at approximately $1,130,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in Monster Beverage by 6.9% in the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock worth $1,760,341,000 after purchasing an additional 2,168,379 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Monster Beverage by 109.3% in the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock worth $1,176,913,000 after buying an additional 11,779,162 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Monster Beverage by 3.1% in the third quarter. Geode Capital Management LLC now owns 15,728,086 shares of the company’s stock worth $817,490,000 after buying an additional 473,418 shares in the last quarter. Norges Bank purchased a new stake in shares of Monster Beverage during the fourth quarter valued at approximately $442,642,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Monster Beverage by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,002,484 shares of the company’s stock valued at $210,371,000 after acquiring an additional 143,871 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

NASDAQ MNST opened at $57.86 on Monday. The business’s fifty day moving average is $52.19 and its 200 day moving average is $52.41. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $59.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The company has a market capitalization of $56.31 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71.

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

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the completion of the sale, the insider now owns 76,201 shares in the company, valued at approximately $4,220,011.38. This represents a 54.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the transaction, the chief financial officer now owns 72,273 shares in the company, valued at $3,994,528.71. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock valued at $11,484,440 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MNST has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Monster Beverage in a research report on Friday, February 28th. UBS Group upped their price target on Monster Beverage from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Citigroup upped their target price on shares of Monster Beverage from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, BNP Paribas reduced their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.83.

About Monster Beverage

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.