Cinctive Capital Management LP Makes New $1.46 Million Investment in Monster Beverage Co. (NASDAQ:MNST)

Cinctive Capital Management LP bought a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) during the fourth quarter, Holdings Channel.com reports. The fund bought 27,833 shares of the company’s stock, valued at approximately $1,463,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Monster Beverage during the fourth quarter worth approximately $442,642,000. CIBC Private Wealth Group LLC raised its stake in Monster Beverage by 659.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company’s stock valued at $251,445,000 after purchasing an additional 4,231,063 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in Monster Beverage by 250.9% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company’s stock valued at $178,801,000 after purchasing an additional 2,480,291 shares in the last quarter. State Street Corp boosted its stake in Monster Beverage by 6.9% during the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock worth $1,760,341,000 after purchasing an additional 2,168,379 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Monster Beverage during the fourth quarter worth $106,882,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.5 %

MNST opened at $59.65 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a one year low of $43.32 and a one year high of $60.34. The company has a market cap of $58.05 billion, a P/E ratio of 38.24, a PEG ratio of 2.28 and a beta of 0.71. The business’s 50-day simple moving average is $53.00 and its 200-day simple moving average is $52.63.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. As a group, equities research analysts expect that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Insider Activity

In other Monster Beverage news, Director Mark J. Hall sold 12,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $54.50, for a total transaction of $654,000.00. Following the sale, the director now directly owns 296,846 shares in the company, valued at approximately $16,178,107. The trade was a 3.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the sale, the chief financial officer now owns 72,273 shares in the company, valued at $3,994,528.71. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock valued at $11,484,440 in the last ninety days. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MNST. BNP Paribas lowered their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Thursday, December 19th. Citigroup upped their price target on Monster Beverage from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Monster Beverage in a research note on Friday, February 28th. Finally, Morgan Stanley lifted their target price on shares of Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.11.

Monster Beverage 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.