Monster Beverage Co. (MNST) Shares Bought by Standard Life Aberdeen plc
Standard Life Aberdeen plc increased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,354 shares of the company’s stock after acquiring an additional 3,573 shares during the period. Standard Life Aberdeen plc’s holdings in Monster Beverage were worth $4,834,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in MNST. Blue Sky Asset Management LLC purchased a new stake in Monster Beverage in the 4th quarter worth about $123,000. Bessemer Group Inc. lifted its stake in Monster Beverage by 397.6% in the 3rd quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after acquiring an additional 2,143 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Monster Beverage in the 3rd quarter worth about $169,000. FDx Advisors Inc. purchased a new stake in Monster Beverage in the 4th quarter worth about $216,000. Finally, Liberty Capital Management Inc. lifted its stake in Monster Beverage by 65.8% in the 4th quarter. Liberty Capital Management Inc. now owns 3,528 shares of the company’s stock worth $225,000 after acquiring an additional 1,400 shares in the last quarter. 65.26% of the stock is owned by hedge funds and other institutional investors.
Monster Beverage Co. (NASDAQ:MNST) opened at $54.16 on Friday. The company has a market capitalization of $30,676.39, a PE ratio of 36.84, a PEG ratio of 1.60 and a beta of 1.14. Monster Beverage Co. has a fifty-two week low of $44.35 and a fifty-two week high of $70.21.
Monster Beverage declared that its Board of Directors has approved a share buyback plan on Thursday, March 1st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
MNST has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on Monster Beverage to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Morgan Stanley cut their price target on Monster Beverage from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Friday. Susquehanna Bancshares downgraded Monster Beverage from a “neutral” rating to a “negative” rating and set a $51.00 price target for the company. in a research note on Monday, November 20th. Jefferies Group reaffirmed a “buy” rating and set a $64.00 price target on shares of Monster Beverage in a research note on Thursday, November 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price target (up from $61.00) on shares of Monster Beverage in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.17.
In other news, CEO Rodney C. Sacks sold 697 shares of the stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $44,963.47. Following the transaction, the chief executive officer now owns 963,789 shares of the company’s stock, valued at approximately $62,174,028.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Hilton H. Schlosberg sold 13,983 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total value of $902,322.99. Following the transaction, the insider now directly owns 967,456 shares in the company, valued at approximately $62,429,935.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,026 shares of company stock worth $17,179,867. 9.40% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION WARNING: This news story was originally published by Watch List News and is owned by of Watch List News. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/monster-beverage-co-mnst-shares-bought-by-standard-life-aberdeen-plc/1907034.html.
About Monster Beverage
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Co. (NASDAQ:MNST).
Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.