Two Sigma Investments LP Has $6.41 Million Stake in Monster Beverage Corp (MNST)
Two Sigma Investments LP reduced its stake in Monster Beverage Corp (NASDAQ:MNST) by 92.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,159 shares of the company’s stock after selling 1,667,465 shares during the period. Two Sigma Investments LP’s holdings in Monster Beverage were worth $6,406,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MNST. Oregon Public Employees Retirement Fund grew its position in Monster Beverage by 4,494.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock worth $94,000 after acquiring an additional 4,519,673 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Monster Beverage by 101,575.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,985,729 shares of the company’s stock worth $115,727,000 after buying an additional 1,983,776 shares during the period. USS Investment Management Ltd acquired a new stake in Monster Beverage during the 4th quarter worth $94,311,000. Capital World Investors acquired a new stake in Monster Beverage during the 3rd quarter worth $62,068,000. Finally, BlackRock Inc. raised its stake in 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 buying an additional 1,009,563 shares during the period. Institutional investors and hedge funds own 66.06% of the company’s stock.
In related news, insider Emelie Tirre sold 24,762 shares of Monster Beverage stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $62.97, for a total transaction of $1,559,263.14. Following the completion of the transaction, the insider now owns 77,363 shares in the company, valued at $4,871,548.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold C. Taber, Jr. sold 11,772 shares of Monster Beverage stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.58, for a total value of $748,463.76. Following the transaction, the director now owns 72,240 shares of the company’s stock, valued at approximately $4,593,019.20. The disclosure for this sale can be found here. Insiders sold a total of 62,253 shares of company stock valued at $3,842,637 in the last 90 days. 9.70% of the stock is owned by corporate insiders.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, February 27th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The company had revenue of $924.23 million during the quarter, compared to analysts’ expectations of $907.75 million. Monster Beverage had a return on equity of 26.96% and a net margin of 26.08%. Monster Beverage’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. On average, sell-side analysts expect that Monster Beverage Corp will post 2.04 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. BidaskClub downgraded Monster Beverage from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, December 20th. UBS Group set a $48.00 price target on Monster Beverage and gave the company a “sell” rating in a research note on Friday, January 18th. Zacks Investment Research downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. Finally, SunTrust Banks raised Monster Beverage from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $65.00 in a research note on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $63.53.
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About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its 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 drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes 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; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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