OLD National Bancorp IN Has $571,000 Position in Monster Beverage Co. (NASDAQ:MNST)

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

A number of other institutional investors have also recently bought and sold shares of MNST. Peoples Bank KS acquired a new position in shares of Monster Beverage in the third quarter valued at approximately $26,000. Headinvest LLC acquired a new position in shares of Monster Beverage in the third quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Monster Beverage during the third quarter worth $31,000. Catalyst Capital Advisors LLC boosted its holdings in 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 purchasing an additional 199 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in Monster Beverage during the third quarter worth $53,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Activity

In other news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares of the company’s stock, valued at $45,542,532. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 9.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup increased their target price on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Redburn Atlantic assumed coverage on shares of Monster Beverage in a report on Wednesday, March 6th. They set a “buy” rating for the company. HSBC reduced their target price on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. UBS Group upped their price target on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group increased their price objective on shares of Monster Beverage from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus price target of $63.11.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $54.33 on Thursday. The company’s 50-day moving average is $57.06 and its 200 day moving average is $55.59. The company has a market capitalization of $56.54 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 2.20 and a beta of 0.72. Monster Beverage Co. has a fifty-two week low of $47.13 and a fifty-two week 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 analysts’ consensus estimates of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Monster Beverage Co. will post 1.81 earnings per share for the current year.

About Monster Beverage

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.