Gateway Investment Advisers LLC Purchases 8,050 Shares of Monster Beverage Corporation $MNST

Key Points

• Gateway Investment Advisers LLC increased its stake in Monster Beverage Corporation by 1.8%, holding 444,729 shares valued at approximately $27.86 million as of the latest SEC filing.
• Institutional investors own 72.36% of Monster Beverage's stock, indicating significant confidence from major financial players in the company's prospects.
• Monster Beverage posted a quarterly earnings report showing EPS of $0.52, exceeding analysts' expectations, with revenue growth of 11.1% year-over-year.

Gateway Investment Advisers LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 444,729 shares of the company's stock after acquiring an additional 8,050 shares during the period. Gateway Investment Advisers LLC's holdings in Monster Beverage were worth $27,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of Monster Beverage by 31.8% during the 4th quarter. Royal Bank of Canada now owns 1,866,129 shares of the company's stock worth $98,083,000 after purchasing an additional 449,842 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Monster Beverage by 3.0% during the fourth quarter. Toronto Dominion Bank now owns 408,826 shares of the company's stock worth $21,488,000 after acquiring an additional 11,947 shares during the last quarter. Tidal Investments LLC raised its position in shares of Monster Beverage by 26.5% during the fourth 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 Investments LP raised its position in shares of Monster Beverage by 16.8% during the fourth quarter. Two Sigma Investments LP now owns 744,332 shares of the company's stock worth $39,122,000 after acquiring an additional 106,892 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Monster Beverage during the fourth quarter worth $8,042,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated 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 transaction, the director directly owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.30% of the company's stock.

Monster Beverage Trading Down 0.8%

NASDAQ:MNST traded down $0.51 during trading hours on Friday, hitting $64.13. 13,012,741 shares of the company were exchanged, compared to its average volume of 4,705,793. The stock 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 one year low of $45.70 and a one year high of $67.13. The company has a fifty day simple moving average of $62.16 and a 200 day simple moving average of $60.88.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the stock an "overweight" rating in a research note on Friday, August 8th. Roth Capital restated a "neutral" rating and issued a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Royal Bank Of Canada set a $68.00 price target on Monster Beverage and gave the company an "outperform" rating in a research report on Friday, August 8th. Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their price objective for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. Finally, Citigroup upped 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. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $65.19.

Monster Beverage 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.