iA Global Asset Management Inc. Has $8.40 Million Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

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

A number of other hedge funds have also modified their holdings of MNST. Global Retirement Partners LLC raised its position in shares of Monster Beverage by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 7,948 shares of the company’s stock valued at $462,000 after acquiring an additional 375 shares during the period. Quent Capital LLC raised its holdings in Monster Beverage by 40.8% during the 4th quarter. Quent Capital LLC now owns 1,180 shares of the company’s stock worth $68,000 after buying an additional 342 shares during the period. Realta Investment Advisors acquired a new stake in Monster Beverage during the 4th quarter worth approximately $361,000. Fifth Third Bancorp raised its holdings in Monster Beverage by 6.7% during the 4th quarter. Fifth Third Bancorp now owns 268,288 shares of the company’s stock worth $15,456,000 after buying an additional 16,778 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in Monster Beverage during the 4th quarter worth approximately $3,305,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on MNST. Roth Mkm dropped their target price on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. UBS Group dropped their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and decreased their price target for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets decreased their price target on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.33.

Insider Transactions at Monster Beverage

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the sale, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark J. Hall sold 250,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total value of $13,055,000.00. Following the completion of the transaction, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 307,221 shares of company stock valued at $16,070,374. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage Price Performance

MNST stock traded down $0.07 during midday trading on Thursday, reaching $51.38. 4,631,163 shares of the company were exchanged, compared to its average volume of 7,299,868. The business has a 50-day moving average price of $50.52 and a two-hundred day moving average price of $54.21. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22. The firm has a market capitalization of $53.52 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76.

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

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.