Rafferty Asset Management LLC Has $16.26 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Rafferty Asset Management LLC lifted its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,263 shares of the company’s stock after buying an additional 25,508 shares during the period. Rafferty Asset Management LLC’s holdings in Monster Beverage were worth $16,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after buying an additional 203 shares during the period. Spire Wealth Management acquired a new position in shares of Monster Beverage during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Monster Beverage during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Monster Beverage during the fourth quarter worth about $30,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Monster Beverage during the fourth quarter worth about $33,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MNST shares. Deutsche Bank Aktiengesellschaft increased their price target on Monster Beverage from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, February 28th. CICC Research raised Monster Beverage from a “market perform” rating to an “outperform” rating and increased their price target for the company from $56.00 to $65.00 in a research report on Monday. JPMorgan Chase & Co. increased their price target on Monster Beverage from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. TD Cowen increased their price target on Monster Beverage from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, May 9th. Finally, UBS Group increased their price target on Monster Beverage from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.50.

Insider Transactions at Monster Beverage

In other news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the transaction, the insider now owns 76,201 shares in the company, valued at approximately $4,220,011.38. This trade represents a 54.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark J. Hall sold 12,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the sale, the director now directly owns 296,846 shares in the company, valued at $16,178,107. This represents a 3.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,316 shares of company stock worth $11,484,440. Company insiders own 8.30% of the company’s stock.

Monster Beverage Price Performance

NASDAQ:MNST opened at $62.33 on Friday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $58.34 and its two-hundred day moving average price is $54.17. The firm has a market capitalization of $60.78 billion, a price-to-earnings ratio of 39.96, a P/E/G ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $62.46.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. On average, analysts anticipate that Monster Beverage Co. will post 1.62 earnings per share for the current year.

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.