BNC Wealth Management LLC Acquires New Shares in Monster Beverage Corporation $MNST

Key Points

• BNC Wealth Management LLC acquired a new position in Monster Beverage Corporation, purchasing 42,548 shares valued at approximately $2.67 million in the second quarter.
• Multiple institutional investors have increased their ownership in Monster Beverage, with current institutional ownership at 72.36%.
• Monster Beverage's stock recently received favorable ratings from several analysts, including a price target increase from $66.00 to $72.00 by Bank of America.

BNC Wealth Management LLC acquired a new position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 42,548 shares of the company's stock, valued at approximately $2,665,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 buying an additional 1,151,175 shares in the last quarter. Invesco Ltd. raised its holdings 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 valued at $535,712,000 after acquiring an additional 563,353 shares in the last quarter. Nuveen LLC purchased a new position in shares of Monster Beverage during the 1st quarter valued at about $497,157,000. Northern Trust Corp raised its holdings in shares of Monster Beverage by 1.0% during the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company's stock valued at $434,901,000 after buying an additional 73,737 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Monster Beverage by 34.6% during 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 acquiring an additional 1,872,075 shares during the last quarter. Institutional investors own 72.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MNST shares. Royal Bank Of Canada set a $68.00 price objective on Monster Beverage and gave the stock an "outperform" rating in a research report on Friday, August 8th. Bank of America lifted their price objective on Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Citigroup lifted their price objective on Monster Beverage from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Redburn Atlantic cut Monster Beverage from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from $63.00 to $60.00 in a research note on Wednesday, July 9th. Finally, Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Monster Beverage has an average rating of "Hold" and an average target price of $65.19.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value 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. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.80% of the stock is owned by insiders.

Monster Beverage Stock Up 0.8%

MNST opened at $64.48 on Wednesday. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $67.13. The stock's fifty day moving average is $62.36 and its two-hundred day moving average is $61.00. The company has a market capitalization of $62.96 billion, a P/E ratio of 40.05, a PEG ratio of 2.23 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the business posted $0.41 EPS. The business's revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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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