Jacobs Levy Equity Management Inc. bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 163,148 shares of the company's stock, valued at approximately $9,547,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock worth $3,791,313,000 after acquiring an additional 1,151,175 shares during the period. Invesco Ltd. grew its stake in shares of Monster Beverage by 6.6% in the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company's stock worth $535,712,000 after buying an additional 563,353 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Monster Beverage in the 1st quarter worth approximately $497,157,000. Northern Trust Corp grew its stake in shares of Monster Beverage by 1.0% in the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company's stock worth $434,901,000 after buying an additional 73,737 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Monster Beverage by 10.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company's stock worth $284,146,000 after buying an additional 493,914 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.
Insider Buying and Selling
In related news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the transaction, the director directly owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.30% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Morgan Stanley upped their price target on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Citigroup upped their price target on Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Piper Sandler upgraded Monster Beverage from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Finally, Roth Mkm upped their price target on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $65.10.
Check Out Our Latest Stock Report on Monster Beverage
Monster Beverage Trading Down 0.8%
Monster Beverage stock traded down $0.52 during trading on Wednesday, reaching $62.83. The company had a trading volume of 4,829,972 shares, compared to its average volume of 4,455,368. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $66.75. The firm's 50-day simple moving average is $61.62 and its 200 day simple moving average is $60.28. The firm has a market capitalization of $61.35 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 2.20 and a beta of 0.54.
Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping 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 company had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.08 billion. During the same period last year, the firm earned $0.41 EPS. Monster Beverage's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.
About Monster Beverage
(
Free Report)
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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