Cim LLC Grows Position in Monster Beverage Corporation $MNST

Key Points

• Cim LLC increased its holdings in Monster Beverage Corporation by 1.9%, bringing its total ownership to 312,094 shares valued at approximately $18.26 million.
• Major institutional investors have shown strong interest, with Nuveen LLC acquiring a stake valued at $497 million and Assenagon Asset Management increasing its holdings by over 5,000%.
• Analysts have mixed ratings for Monster Beverage, with Goldman Sachs raising its target price to $72, while Redburn Atlantic downgraded the stock from "strong-buy" to "hold" with a target price of $60.

Cim LLC boosted its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 312,094 shares of the company's stock after acquiring an additional 5,943 shares during the quarter. Monster Beverage comprises approximately 2.7% of Cim LLC's portfolio, making the stock its 15th biggest holding. Cim LLC's holdings in Monster Beverage were worth $18,264,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Monster Beverage in the first quarter valued at $497,157,000. Assenagon Asset Management S.A. grew its holdings in Monster Beverage by 5,095.6% in the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock valued at $179,267,000 after purchasing an additional 3,004,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Monster Beverage in the fourth quarter valued at $110,942,000. Montrusco Bolton Investments Inc. grew its holdings in Monster Beverage by 54.7% in the first quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company's stock valued at $303,728,000 after purchasing an additional 1,897,466 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Monster Beverage by 34.6% in 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 valued at $425,921,000 after purchasing an additional 1,872,075 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MNST shares. The Goldman Sachs Group upped their target price on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a report on Friday, June 13th. Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Morgan Stanley increased their price objective on Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Royal Bank Of Canada set a $68.00 price objective on Monster Beverage and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.10.

Insiders Place Their Bets

In related news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction 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 transaction, the director directly owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company's stock.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $63.80 on Friday. The company has a market cap of $62.30 billion, a P/E ratio of 39.63, a PEG ratio of 2.19 and a beta of 0.54. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $66.75. The business's 50-day simple moving average is $61.64 and its 200 day simple moving average is $60.36.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data 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 return on equity of 27.46% and a net margin of 20.54%.The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm earned $0.41 EPS. Monster Beverage's quarterly revenue was up 11.1% on a year-over-year basis. Analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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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