Carderock Capital Management Inc. Raises Position in Monster Beverage Corporation $MNST

Key Points

• Carderock Capital Management Inc. increased its stake in Monster Beverage Corporation by 19.8% by acquiring 10,870 shares, bringing its total holdings to 65,638 shares valued at approximately $4.11 million.
• Monster Beverage reported a quarterly earnings per share (EPS) of $0.52, beating estimates by $0.04, and its revenue was up 11.1% year-over-year, totaling $2.11 billion.
• Analysts have recently upgraded their ratings on Monster Beverage, with price targets raised to as high as $74.00, indicating a positive outlook on the stock.

Carderock Capital Management Inc. increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,638 shares of the company's stock after purchasing an additional 10,870 shares during the quarter. Carderock Capital Management Inc.'s holdings in Monster Beverage were worth $4,112,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MNST. Tidal Investments LLC boosted its stake in Monster Beverage by 26.5% during the 4th quarter. Tidal Investments LLC now owns 67,355 shares of the company's stock worth $3,540,000 after acquiring an additional 14,109 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $8,042,000. Vident Advisory LLC lifted its stake in shares of Monster Beverage by 12.2% during the 4th quarter. Vident Advisory LLC now owns 20,237 shares of the company's stock worth $1,064,000 after buying an additional 2,193 shares during the last quarter. USS Investment Management Ltd acquired a new position in shares of Monster Beverage in the fourth quarter valued at about $7,387,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Monster Beverage by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company's stock worth $284,146,000 after buying an additional 493,914 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were 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 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 legal filing with the SEC, which is available at this link. 8.30% of the stock is owned by insiders.

Monster Beverage Stock Down 0.8%

Shares of MNST traded down $0.51 during trading hours on Friday, reaching $64.13. 13,012,741 shares of the company traded hands, compared to its average volume of 4,705,793. The company's fifty day moving average price is $62.16 and its two-hundred day moving average price is $60.88. The company has a market capitalization of $62.62 billion, a price-to-earnings ratio of 39.83, a price-to-earnings-growth ratio of 2.23 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $67.13.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Roth Capital restated 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. Redburn Atlantic lowered shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Piper Sandler raised shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price target for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Finally, Citigroup boosted their target price on shares of Monster Beverage from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.