Callan Family Office LLC Buys 10,378 Shares of Monster Beverage Corporation $MNST

Key Points

• Callan Family Office LLC increased its stake in Monster Beverage Corporation by 159.1%, acquiring an additional 10,378 shares, bringing its total holdings to 16,902 shares valued at approximately $1,059,000.
• Monster Beverage's stock opened at $69.62, with a market capitalization of $67.98 billion, while its quarterly earnings announced a 11.1% increase in revenue compared to the previous year.
• Several analysts have raised their price targets for Monster Beverage, with Morgan Stanley increasing its target from $70.00 to $74.00 and Wells Fargo setting a target of $73.00, indicating a positive outlook for the stock.

Callan Family Office LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 159.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,902 shares of the company's stock after acquiring an additional 10,378 shares during the period. Callan Family Office LLC's holdings in Monster Beverage were worth $1,059,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Monster Beverage by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock worth $3,791,313,000 after acquiring an additional 1,151,175 shares in the last quarter. Invesco Ltd. raised its position 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. Ninety One UK Ltd raised its position in shares of Monster Beverage by 4.9% in the 2nd quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company's stock worth $560,282,000 after acquiring an additional 418,918 shares in the last quarter. Nuveen LLC bought a new position in shares of Monster Beverage in the 1st quarter worth $497,157,000. Finally, Northern Trust Corp raised its position in shares of Monster Beverage by 1.0% in the 1st 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. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Performance

Monster Beverage stock opened at $69.62 on Monday. The business's 50-day simple moving average is $64.31 and its two-hundred day simple moving average is $62.01. The company has a market cap of $67.98 billion, a PE ratio of 43.24, a PEG ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.06.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company set a $73.00 price target on Monster Beverage and gave the stock an "overweight" rating in a research report on Friday, August 8th. Morgan Stanley upped their target price on Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. UBS Group upped their target price on Monster Beverage from $67.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Finally, Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $66.05.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business's 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 sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.30% 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.

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