OLD National Bancorp IN Trims Stock Position in Monster Beverage Co. (NASDAQ:MNST)

OLD National Bancorp IN trimmed its holdings in Monster Beverage Co. (NASDAQ:MNST) by 15.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,918 shares of the company’s stock after selling 1,834 shares during the period. OLD National Bancorp IN’s holdings in Monster Beverage were worth $571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peoples Bank KS purchased a new stake in shares of Monster Beverage in the third quarter valued at about $26,000. Headinvest LLC purchased a new stake in shares of Monster Beverage in the third quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Monster Beverage in the third quarter valued at about $31,000. Catalyst Capital Advisors LLC increased its stake in shares of Monster Beverage by 34.6% during the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock worth $41,000 after acquiring an additional 199 shares during the period. Finally, DT Investment Partners LLC acquired a new position in shares of Monster Beverage during the third quarter worth about $53,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the sale, the director now owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is owned by company insiders.

Monster Beverage Stock Performance

Shares of MNST opened at $54.33 on Thursday. The company has a market capitalization of $56.54 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.20 and a beta of 0.72. The company’s 50 day simple moving average is $57.06 and its 200 day simple moving average is $55.59. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Equities analysts expect that Monster Beverage Co. will post 1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Citigroup boosted their price target on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Redburn Atlantic initiated coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a “buy” rating on the stock. HSBC lowered their target price on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group upped their target price on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.11.

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.