Ameriprise Financial Inc. Raises Position in Monster Beverage Corporation $MNST

Key Points

• Ameriprise Financial Inc. increased its holdings in Monster Beverage Corporation to approximately $96.75 million by acquiring an additional 31,409 shares in the first quarter of 2023.
• Monster Beverage reported a $0.52 earnings per share for the latest quarter, exceeding analysts' expectations and demonstrating an 11.1% year-over-year revenue growth.
• Despite these positive earnings, shares of Monster Beverage (NASDAQ: MNST) saw a 0.9% decline in trading, with an opening price of $62.30.

Ameriprise Financial Inc. grew its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,652,854 shares of the company's stock after purchasing an additional 31,409 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.17% of Monster Beverage worth $96,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Wayfinding Financial LLC acquired a new stake in Monster Beverage during the 1st quarter valued at $29,000. Park Square Financial Group LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after acquiring an additional 196 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Monster Beverage during the first quarter valued at $43,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in Monster Beverage by 21.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after purchasing an additional 230 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company's stock.

Monster Beverage Stock Performance

Monster Beverage stock traded up $0.29 during midday trading on Thursday, reaching $62.02. The stock had a trading volume of 4,328,982 shares, compared to its average volume of 7,093,673. The stock's 50-day simple moving average is $61.60 and its 200 day simple moving average is $59.49. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75. The stock has a market capitalization of $60.56 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 2.02 and a beta of 0.55.

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 for the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. Equities analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MNST has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Rothschild & Co Redburn downgraded 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. Morgan Stanley lifted their target price 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. Royal Bank Of Canada set a $68.00 price target on Monster Beverage and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised Monster Beverage from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $65.10.

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.