iA Global Asset Management Inc. Purchases 7,657 Shares of Monster Beverage Co. (NASDAQ:MNST)

iA Global Asset Management Inc. raised its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,761 shares of the company’s stock after purchasing an additional 7,657 shares during the period. iA Global Asset Management Inc.’s holdings in Monster Beverage were worth $8,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LBP AM SA bought a new position in Monster Beverage during the first quarter valued at $473,000. Hancock Whitney Corp bought a new position in Monster Beverage during the first quarter valued at $225,000. Tidal Investments LLC grew its holdings in Monster Beverage by 52.1% during the first quarter. Tidal Investments LLC now owns 65,597 shares of the company’s stock valued at $3,887,000 after purchasing an additional 22,479 shares during the period. Motley Fool Asset Management LLC grew its holdings in Monster Beverage by 12.2% during the first quarter. Motley Fool Asset Management LLC now owns 34,695 shares of the company’s stock valued at $2,057,000 after purchasing an additional 3,762 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Monster Beverage by 1.0% during the first quarter. California State Teachers Retirement System now owns 1,285,097 shares of the company’s stock valued at $76,181,000 after purchasing an additional 12,105 shares during the period. 72.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MNST has been the subject of a number of analyst reports. Bank of America cut their price target on Monster Beverage from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. BNP Paribas initiated coverage on Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target for the company. BMO Capital Markets cut their price target on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Monster Beverage from $66.00 to $63.00 and set a “buy” rating for the company in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Monster Beverage currently has an average rating of “Hold” and an average target price of $59.33.

Insider Buying and Selling

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now owns 1,875,558 shares in the company, valued at approximately $99,404,574. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the sale, the director now owns 68,167 shares in the company, valued at $3,534,458.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at $99,404,574. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock worth $16,070,374 in the last quarter. 7.80% of the stock is owned by insiders.

Monster Beverage Stock Performance

NASDAQ:MNST traded down $0.07 during mid-day trading on Thursday, reaching $51.38. The stock had a trading volume of 4,631,163 shares, compared to its average volume of 7,299,868. The firm has a 50 day moving average price of $50.52 and a two-hundred day moving average price of $54.21. The stock has a market capitalization of $53.52 billion, a P/E ratio of 32.30, a P/E/G ratio of 2.10 and a beta of 0.76. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. Research analysts forecast that Monster Beverage Co. will post 1.75 earnings per share for the current year.

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.