Alyeska Investment Group L.P. Has $99.83 Million Position in Monster Beverage Corporation $MNST

Key Points

• Alyeska Investment Group L.P. reduced its stake in Monster Beverage Corporation by 31.9%, owning approximately 1.7 million shares worth nearly $100 million after selling almost 800,000 shares.
• Multiple institutional investors, including Pinnacle Associates Ltd. and Migdal Insurance & Financial Holdings, have recently modified their positions in Monster Beverage, contributing to institutional ownership of 72.36% of the stock.
• Analysts have raised their price targets for Monster Beverage, with Morgan Stanley now setting a target of $74.00 and a consensus rating of "Hold," as the company recently reported better-than-expected earnings.

Alyeska Investment Group L.P. reduced its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 31.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,705,908 shares of the company's stock after selling 798,441 shares during the period. Alyeska Investment Group L.P. owned about 0.17% of Monster Beverage worth $99,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Associates Ltd. boosted its position in shares of Monster Beverage by 4.0% during the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock worth $286,000 after buying an additional 189 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Monster Beverage by 37.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after buying an additional 196 shares during the period. Conning Inc. boosted its position in shares of Monster Beverage by 3.9% during the first quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after buying an additional 219 shares during the period. Eastern Bank boosted its position in shares of Monster Beverage by 3.0% during the first quarter. Eastern Bank now owns 7,527 shares of the company's stock worth $440,000 after buying an additional 221 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Monster Beverage by 21.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after buying an additional 230 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MNST has been the subject of several recent research reports. Morgan Stanley upped their price objective on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Wall Street Zen raised Monster Beverage from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. TD Cowen upped their target price on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Royal Bank Of Canada set a $68.00 target price on Monster Beverage and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Monster Beverage currently has an average rating of "Hold" and an average target price of $65.10.

Monster Beverage Stock Up 0.4%

NASDAQ:MNST opened at $62.67 on Wednesday. The stock's 50 day moving average price is $61.55 and its two-hundred day moving average price is $59.85. The firm has a market capitalization of $61.19 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 2.04 and a beta of 0.54. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share. Equities research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.