Aspiriant LLC Makes New Investment in Monster Beverage Corporation $MNST

Key Points

• Aspiriant LLC acquired a new position in Monster Beverage Corporation by purchasing 4,649 shares valued at approximately $291,000 in the second quarter.
• Several institutional investors, including Nuveen LLC and Vanguard Group, significantly increased their stakes in Monster Beverage, indicating strong institutional interest in the company.
• Monster Beverage reported a quarterly EPS of $0.52, surpassing analysts' expectations, alongside a revenue increase of 11.1% year-over-year, highlighting growth in its financial performance.

Aspiriant LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,649 shares of the company's stock, valued at approximately $291,000.

Several other hedge funds have also recently added to or reduced their stakes in MNST. Nuveen LLC bought a new stake in Monster Beverage during the first quarter worth about $497,157,000. Montrusco Bolton Investments Inc. lifted its stake in 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 purchasing an additional 1,897,466 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Monster Beverage by 34.6% during 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 worth $425,921,000 after purchasing an additional 1,872,075 shares during the last quarter. Amundi lifted its stake in Monster Beverage by 69.8% during the first quarter. Amundi now owns 3,032,591 shares of the company's stock worth $180,894,000 after purchasing an additional 1,246,114 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company'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 transaction of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is owned by insiders.

Monster Beverage Price Performance

MNST opened at $70.22 on Friday. The business has a 50 day simple moving average of $65.12 and a two-hundred day simple moving average of $62.34. The firm has a market capitalization of $68.56 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 2.44 and a beta of 0.54. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $70.65.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The business 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%.Monster Beverage's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Roth Capital reaffirmed a "neutral" rating and set a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Citigroup reissued a "buy" rating and issued a $79.00 target price (up previously from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. Royal Bank Of Canada boosted their target price on Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company set a $73.00 target price on Monster Beverage and gave the company an "overweight" rating in a research note on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $66.05.

About Monster Beverage

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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