Monster Beverage Corp (MNST) Holdings Lifted by AlphaCrest Capital Management LLC
AlphaCrest Capital Management LLC grew its holdings in shares of Monster Beverage Corp (NASDAQ:MNST) by 127.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,314 shares of the company’s stock after purchasing an additional 32,671 shares during the quarter. Monster Beverage makes up about 0.5% of AlphaCrest Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. AlphaCrest Capital Management LLC’s holdings in Monster Beverage were worth $3,183,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Monster Beverage by 4.2% during the 4th quarter. BlackRock Inc. now owns 25,120,708 shares of the company’s stock worth $1,236,441,000 after purchasing an additional 1,009,563 shares during the period. Geode Capital Management LLC raised its position in shares of Monster Beverage by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 5,335,460 shares of the company’s stock worth $262,159,000 after buying an additional 289,340 shares during the period. Northern Trust Corp raised its position in shares of Monster Beverage by 1.0% in the 4th quarter. Northern Trust Corp now owns 4,759,064 shares of the company’s stock worth $234,241,000 after buying an additional 48,167 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Monster Beverage by 4,494.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock worth $94,000 after buying an additional 4,519,673 shares during the period. Finally, Norges Bank purchased a new position in shares of Monster Beverage in the 4th quarter worth $209,565,000. 66.59% of the stock is currently owned by institutional investors.
In related news, EVP Thomas J. Kelly sold 25,719 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $59.68, for a total value of $1,534,909.92. Following the completion of the sale, the executive vice president now directly owns 35,370 shares in the company, valued at approximately $2,110,881.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Emelie Tirre sold 24,762 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $62.70, for a total value of $1,552,577.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,822 shares of company stock valued at $27,371,006. 9.70% of the stock is owned by insiders.
Shares of NASDAQ MNST opened at $62.81 on Tuesday. Monster Beverage Corp has a 12-month low of $47.74 and a 12-month high of $66.38. The firm has a market capitalization of $33.92 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.09 and a beta of 1.38.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.05. Monster Beverage had a return on equity of 28.35% and a net margin of 26.61%. The firm had revenue of $946.00 million during the quarter, compared to the consensus estimate of $919.49 million. During the same period in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Monster Beverage Corp will post 2.08 earnings per share for the current year.
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Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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