Commerzbank Aktiengesellschaft FI Boosts Position in Monster Beverage Corporation $MNST

Key Points

• Commerzbank Aktiengesellschaft FI increased its holdings in Monster Beverage Corporation by 160.9% in Q2, acquiring a total of 68,714 shares worth $4.3 million.
• Monster Beverage reported Q2 earnings of $0.52 per share, exceeding analysts' expectations, with revenue of $2.11 billion, marking an 11.1% year-over-year growth.
• Analysts have mixed views on the stock, with numerous upgrades and downgrades; the current average price target is $65.71, while there are 13 buy ratings, 8 hold ratings, and 2 sell ratings.

Commerzbank Aktiengesellschaft FI increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 160.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,714 shares of the company's stock after purchasing an additional 42,380 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Monster Beverage were worth $4,304,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MNST. Farther Finance Advisors LLC lifted its stake in Monster Beverage by 23.1% during the first quarter. Farther Finance Advisors LLC now owns 7,400 shares of the company's stock worth $437,000 after purchasing an additional 1,390 shares during the last quarter. GAMMA Investing LLC increased its position in Monster Beverage by 2.2% during the first quarter. GAMMA Investing LLC now owns 21,433 shares of the company's stock worth $1,254,000 after buying an additional 460 shares during the period. Simplicity Wealth LLC increased its position in Monster Beverage by 14.6% during the first quarter. Simplicity Wealth LLC now owns 4,481 shares of the company's stock worth $262,000 after buying an additional 570 shares during the period. Trueblood Wealth Management LLC acquired a new position in Monster Beverage during the first quarter worth approximately $205,000. Finally, Integrated Advisors Network LLC acquired a new position in Monster Beverage during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $69.03 on Friday. The business's fifty day moving average price is $64.10 and its 200 day moving average price is $61.87. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $69.28. The firm has a market capitalization of $67.40 billion, a PE ratio of 42.88, a P/E/G ratio of 2.39 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The company 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%.Monster Beverage's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MNST. Rothschild & Co Redburn lowered Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a research report on Wednesday, July 9th. Morgan Stanley lifted their price target on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Stifel Nicolaus began coverage on Monster Beverage in a research report on Thursday, June 12th. They set a "buy" rating and a $72.00 price target on the stock. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Finally, Roth Capital reissued a "neutral" rating and issued a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Monster Beverage presently has an average rating of "Hold" and an average price target of $65.71.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business'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 sale, the director directly owned 51,191 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.