Monster Beverage Corporation $MNST Shares Bought by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 52.7% in the fourth quarter, HoldingsChannel reports. The fund owned 21,104 shares of the company’s stock after buying an additional 7,280 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Monster Beverage were worth $1,618,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Monster Beverage by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company’s stock worth $5,212,080,000 after acquiring an additional 497,108 shares during the period. State Street Corp lifted its holdings in shares of Monster Beverage by 8.0% in the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock valued at $2,538,872,000 after buying an additional 2,789,273 shares during the period. Invesco Ltd. lifted its holdings in shares of Monster Beverage by 6.3% in the third quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock valued at $785,885,000 after buying an additional 692,192 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Monster Beverage by 12.2% in the third quarter. Schroder Investment Management Group now owns 8,175,683 shares of the company’s stock valued at $547,444,000 after buying an additional 891,804 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Monster Beverage by 1.2% in the third quarter. Northern Trust Corp now owns 7,867,341 shares of the company’s stock valued at $529,551,000 after buying an additional 95,919 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 8th. Piper Sandler upped their price objective on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. TD Cowen cut their price objective on Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 20th. Jefferies Financial Group set a $100.00 price objective on Monster Beverage in a report on Wednesday, March 11th. Finally, Citigroup upped their price objective on Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $88.37.

Insider Transactions at Monster Beverage

In related news, Director Mark J. Hall sold 54,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the transaction, the director directly owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Kelly sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total value of $614,670.00. Following the transaction, the chief financial officer directly owned 62,553 shares in the company, valued at $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,700 shares of company stock valued at $13,730,462 over the last three months. Company insiders own 8.10% of the company’s stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $87.09 on Monday. The stock’s fifty day moving average is $76.55 and its 200-day moving average is $76.64. The firm has a market capitalization of $85.17 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 2.87 and a beta of 0.50. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $88.77.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.Monster Beverage’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. Analysts expect that Monster Beverage Corporation will post 2.31 EPS for the current year.

Monster Beverage announced that its board has initiated a stock repurchase program on Friday, May 15th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 0.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.