Allspring Global Investments Holdings LLC Has $21.38 Million Holdings in Monster Beverage Corporation $MNST

Key Points

• Allspring Global Investments Holdings LLC has significantly increased its holdings in Monster Beverage Corporation by 672.7% during the second quarter, totaling approximately $21.38 million in value.
• Thirteen analysts currently rate Monster Beverage stock with a Buy rating, and the stock has a consensus price target of $66.05.
• The company's latest earnings report exceeded expectations, with an EPS of $0.52 and revenue of $2.11 billion, indicating an 11.1% year-over-year increase.

Allspring Global Investments Holdings LLC boosted its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 672.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 336,439 shares of the company's stock after buying an additional 292,896 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Monster Beverage were worth $21,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MNST. Wayfinding Financial LLC acquired a new position in Monster Beverage in the 1st quarter valued at $29,000. Webster Bank N. A. acquired a new position in Monster Beverage in the 2nd quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after buying an additional 196 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Monster Beverage in the 1st quarter valued at $43,000. Finally, Ameritas Advisory Services LLC acquired a new position in Monster Beverage in the 2nd quarter valued at $55,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MNST shares. Bank of America increased their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Monster Beverage in a report on Wednesday, October 8th. Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the company an "overweight" rating in a report on Friday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $66.05.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company's stock.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $70.16 on Friday. The company has a 50-day moving average of $65.01 and a 200-day moving average of $62.24. The company has a market capitalization of $68.51 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 2.39 and a beta of 0.54. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.51.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage Company 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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