Allianz Asset Management GmbH Sells 411,889 Shares of Monster Beverage Corporation $MNST

Key Points

• Allianz Asset Management GmbH has reduced its stake in Monster Beverage Corporation by 12.3%, selling 411,889 shares, and now holds approximately 0.30% of the company valued at $184.3 million.
• Other institutional investors have increased their holdings in Monster Beverage, with significant stakes acquired by Nuveen LLC and UBS, resulting in institutional ownership rising to 72.36%.
• Monster Beverage recently reported $2.11 billion in revenue for the quarter, surpassing analyst estimates, and posted an EPS of $0.52, beating expectations by $0.04.

Allianz Asset Management GmbH reduced its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,942,219 shares of the company's stock after selling 411,889 shares during the period. Allianz Asset Management GmbH owned about 0.30% of Monster Beverage worth $184,301,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Monster Beverage in the 1st quarter worth approximately $497,157,000. Montrusco Bolton Investments Inc. boosted its stake in shares of Monster Beverage by 54.7% during the first quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company's stock worth $303,728,000 after buying an additional 1,897,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Monster Beverage by 34.6% in 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 buying an additional 1,872,075 shares in the last quarter. Amundi grew its stake in Monster Beverage by 69.8% in the 1st quarter. Amundi now owns 3,032,591 shares of the company's stock valued at $180,894,000 after acquiring an additional 1,246,114 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Monster Beverage by 1.8% in 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. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Up 0.1%

NASDAQ MNST opened at $68.65 on Thursday. The firm has a market capitalization of $67.03 billion, a price-to-earnings ratio of 42.64, a P/E/G ratio of 2.39 and a beta of 0.54. The firm's 50 day simple moving average is $64.82 and its 200 day simple moving average is $62.16. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.06.

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

Analyst Ratings Changes

MNST has been the topic of a number of research reports. Wall Street Zen downgraded shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Citigroup reiterated a "buy" rating and issued a $79.00 target price (up from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Royal Bank Of Canada increased their price target on shares of Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, October 10th. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Finally, Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective on the stock. in a research note on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $66.05.

Insiders Place Their Bets

In related news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 51,191 shares in the company, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. 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 insiders.

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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