Annex Advisory Services LLC Boosts Stake in Monster Beverage Corporation $MNST

Key Points

• Annex Advisory Services LLC increased its stake in Monster Beverage Corporation by 8.9% during the second quarter, now holding 114,175 shares worth approximately $7.15 million.
• Monster Beverage reported a quarterly earnings per share (EPS) of $0.52, surpassing the consensus estimate of $0.48, and achieved revenue of $2.11 billion, up 11.1% from the previous year.
• Wall Street analysts have raised their price targets for Monster Beverage, with Morgan Stanley increasing its target from $70.00 to $74.00 and giving the stock an "overweight" rating.

Annex Advisory Services LLC increased its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 8.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,175 shares of the company's stock after purchasing an additional 9,289 shares during the quarter. Annex Advisory Services LLC's holdings in Monster Beverage were worth $7,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock valued at $3,791,313,000 after buying an additional 1,151,175 shares during the period. Invesco Ltd. increased 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 acquiring an additional 563,353 shares in the last quarter. Nuveen LLC bought a new position in shares of Monster Beverage in the 1st quarter worth about $497,157,000. Northern Trust Corp boosted its stake in Monster Beverage by 1.0% during the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company's stock worth $434,901,000 after acquiring an additional 73,737 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Monster Beverage by 34.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company's stock worth $425,921,000 after purchasing an additional 1,872,075 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

MNST stock opened at $64.13 on Friday. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $67.13. The firm has a market cap of $62.62 billion, a price-to-earnings ratio of 39.83, a PEG ratio of 2.23 and a beta of 0.54. The firm has a 50-day simple moving average of $62.16 and a two-hundred day simple moving average of $60.88.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $2.11 billion during 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 business posted $0.41 EPS. As a group, equities analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Royal Bank Of Canada set a $68.00 target price on shares of Monster Beverage and gave the stock an "outperform" rating in a research note on Friday, August 8th. UBS Group boosted their price target on Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group boosted their price target on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Twelve 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $65.19.

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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