Geode Capital Management LLC Has $1.51 Billion Holdings in Monster Beverage Corporation $MNST

Geode Capital Management LLC lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,625,097 shares of the company’s stock after purchasing an additional 330,766 shares during the period. Geode Capital Management LLC’s holdings in Monster Beverage were worth $1,509,369,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MNST. Massachusetts Financial Services Co. MA lifted its holdings in shares of Monster Beverage by 7,360.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock worth $474,695,000 after purchasing an additional 6,108,420 shares during the period. State Street Corp lifted its holdings in shares of Monster Beverage by 8.0% during the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after purchasing an additional 2,789,273 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Monster Beverage by 3.2% during the third quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after purchasing an additional 2,122,685 shares during the period. Capital Research Global Investors lifted its holdings in shares of Monster Beverage by 71.4% during the third quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock worth $338,765,000 after purchasing an additional 2,096,575 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Monster Beverage by 262.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,327,626 shares of the company’s stock valued at $178,459,000 after buying an additional 1,684,752 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total value of $4,633,740.00. Following the completion of the sale, the director directly owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 10,000 shares of Monster Beverage stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total transaction of $857,400.00. Following the completion of the sale, the insider directly owned 71,763 shares of the company’s stock, valued at approximately $6,152,959.62. This trade represents a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 159,700 shares of company stock valued at $13,730,462. Corporate insiders own 8.10% of the company’s stock.

Monster Beverage Stock Down 1.4%

MNST stock opened at $87.99 on Friday. The firm has a market cap of $86.06 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 2.94 and a beta of 0.50. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $89.85. The company’s fifty day simple moving average is $78.45 and its 200 day simple moving average is $77.91.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. Research analysts expect that Monster Beverage Corporation will post 2.31 earnings per share for the current year.

Monster Beverage announced that its board has authorized a stock repurchase plan on Friday, May 15th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 0.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MNST. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 8th. Bank of America dropped their target price on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Morgan Stanley restated an “overweight” rating and issued a $100.00 target price (up from $96.00) on shares of Monster Beverage in a report on Sunday, May 10th. Finally, Stifel Nicolaus dropped their target price on shares of Monster Beverage from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.89.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.