Bayesian Capital Management LP Invests $4.01 Million in Monster Beverage Co. (NASDAQ:MNST)

Bayesian Capital Management LP acquired a new position in shares of Monster Beverage Co. (NASDAQ:MNST) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 69,600 shares of the company’s stock, valued at approximately $4,010,000.

Several other institutional investors have also recently added to or reduced their stakes in MNST. Wellington Management Group LLP grew its holdings in shares of Monster Beverage by 20.3% during the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after buying an additional 3,296,466 shares in the last quarter. Clearbridge Investments LLC grew its stake in Monster Beverage by 2.9% in the 4th quarter. Clearbridge Investments LLC now owns 11,622,228 shares of the company’s stock worth $669,557,000 after acquiring an additional 330,740 shares during the period. Capital Research Global Investors raised its holdings in Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after acquiring an additional 3,026,657 shares during the last quarter. Norges Bank purchased a new position in shares of Monster Beverage during the 4th quarter worth $517,035,000. Finally, Northern Trust Corp boosted its holdings in shares of Monster Beverage by 3.3% during the third quarter. Northern Trust Corp now owns 7,638,653 shares of the company’s stock worth $404,467,000 after purchasing an additional 243,401 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Monster Beverage stock opened at $49.77 on Thursday. Monster Beverage Co. has a 12-month low of $47.13 and a 12-month high of $61.22. The company has a market capitalization of $51.85 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. The firm’s fifty day moving average price is $53.57 and its 200 day moving average price is $55.76.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. Analysts forecast that Monster Beverage Co. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MNST shares. UBS Group reduced their target price on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Piper Sandler increased their price objective on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered shares of Monster Beverage from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $66.00 to $59.00 in a report on Thursday, April 25th. Finally, HSBC dropped their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average price target of $61.37.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the sale, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is currently owned by corporate insiders.

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.