158,051 Shares in Monster Beverage Corporation $MNST Acquired by Strs Ohio

Key Points

• Strs Ohio recently acquired 158,051 shares of Monster Beverage Corporation, valued at approximately $9.25 million, highlighting increased institutional interest in the company's stock.
• Monster Beverage reported a quarterly earnings of $0.52 per share, exceeding analysts' expectations of $0.48 and achieving a revenue of $2.11 billion, a year-over-year increase of 11.1%.
• Multiple brokerages have upgraded their ratings on Monster Beverage, with price targets ranging from $68 to $74, indicating a positive outlook among analysts.

Strs Ohio acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 158,051 shares of the company's stock, valued at approximately $9,249,000.

A number of other hedge funds also recently bought and sold shares of the company. Carderock Capital Management Inc. lifted its stake in Monster Beverage by 18.4% during the first quarter. Carderock Capital Management Inc. now owns 54,768 shares of the company's stock valued at $3,205,000 after buying an additional 8,522 shares in the last quarter. WBI Investments LLC bought a new position in Monster Beverage during the first quarter valued at approximately $2,338,000. Intech Investment Management LLC raised its position in Monster Beverage by 3.3% during the first quarter. Intech Investment Management LLC now owns 126,852 shares of the company's stock valued at $7,423,000 after acquiring an additional 4,018 shares in the last quarter. Bayforest Capital Ltd grew its holdings in Monster Beverage by 23.4% during the first quarter. Bayforest Capital Ltd now owns 2,127 shares of the company's stock valued at $124,000 after purchasing an additional 404 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Monster Beverage by 34.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company's stock valued at $425,921,000 after purchasing an additional 1,872,075 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MNST. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the stock an "overweight" rating in a research note on Friday, August 8th. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Stifel Nicolaus assumed coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They set a "buy" rating and a $72.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of "Hold" and a consensus target price of $65.10.

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Stock Up 1.4%

Shares of Monster Beverage stock opened at $64.69 on Friday. The company has a 50-day simple moving average of $61.69 and a 200 day simple moving average of $60.50. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $66.75. The stock has a market capitalization of $63.17 billion, a P/E ratio of 40.18, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.08 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.

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