Allstate Corp Buys Shares of 26,596 Monster Beverage Corporation $MNST

Allstate Corp acquired a new position in Monster Beverage Corporation (NASDAQ:MNST) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,596 shares of the company’s stock, valued at approximately $1,790,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Access Investment Management LLC purchased a new position in Monster Beverage during the 2nd quarter valued at $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in Monster Beverage during the third quarter valued at $27,000. Salomon & Ludwin LLC acquired a new stake in Monster Beverage during the 2nd quarter worth $28,000. Newbridge Financial Services Group Inc. boosted its stake in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after buying an additional 415 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at approximately $29,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 4.2%

Shares of Monster Beverage stock opened at $81.47 on Wednesday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $81.62. The stock has a market cap of $79.60 billion, a P/E ratio of 46.29, a P/E/G ratio of 2.05 and a beta of 0.46. The business’s 50 day moving average is $75.31 and its 200-day moving average is $68.23.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the firm earned $0.41 EPS. Monster Beverage’s revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Activity

In other news, insider Emelie Tirre sold 30,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the sale, the insider directly owned 63,939 shares of the company’s stock, valued at $4,687,368.09. The trade was a 31.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.58, for a total transaction of $15,197,433.94. The disclosure for this sale is available in the SEC filing. Insiders sold 274,981 shares of company stock worth $20,138,516 over the last three months. 7.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on MNST. BNP Paribas upgraded shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target for the company in a report on Friday. Bank of America upped their price target on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, December 19th. Royal Bank Of Canada restated an “outperform” rating and set a $81.00 price objective (up from $75.00) on shares of Monster Beverage in a report on Monday, December 1st. BMO Capital Markets restated a “market perform” rating and issued a $73.00 target price (up from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. Finally, Zacks Research lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $75.74.

Monster Beverage Company Profile

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.