Intech Investment Management LLC Increases Position in Monster Beverage Corporation $MNST

Key Points

• Intech Investment Management LLC increased its holdings in Monster Beverage Corporation by 3.3%, purchasing an additional 4,018 shares, bringing its total shares owned to 126,852, valued at $7.42 million.
• Monster Beverage's stock has various ratings, with 12 analysts giving it a "Buy" rating and average target prices ranging from $60.00 to $74.00.
• The company's recent financial performance includes an EPS of $0.52 for the latest quarter, exceeding analyst expectations, with revenue up by 11.1% compared to the previous year.

Intech Investment Management LLC lifted its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,852 shares of the company's stock after buying an additional 4,018 shares during the quarter. Intech Investment Management LLC's holdings in Monster Beverage were worth $7,423,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pinnacle Associates Ltd. increased its stake in Monster Beverage by 4.0% in the first quarter. Pinnacle Associates Ltd. now owns 4,887 shares of the company's stock worth $286,000 after purchasing an additional 189 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after buying an additional 196 shares during the period. Conning Inc. grew its stake in Monster Beverage by 3.9% in the first quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after purchasing an additional 219 shares in the last quarter. Eastern Bank increased its holdings in Monster Beverage by 3.0% during the 1st quarter. Eastern Bank now owns 7,527 shares of the company's stock worth $440,000 after purchasing an additional 221 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its position in Monster Beverage by 21.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock valued at $77,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Insider Buying and Selling at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were 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 in the company, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.30% of the stock is owned by insiders.

Analyst Ratings Changes

MNST has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Redburn Atlantic lowered shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Roth Capital restated a "neutral" rating and set a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Stifel Nicolaus initiated coverage on shares of Monster Beverage in a report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target on the stock. Finally, Citigroup increased their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $65.10.

Monster Beverage Trading Up 1.5%

NASDAQ:MNST opened at $63.80 on Friday. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $66.75. The firm has a fifty day simple moving average of $61.64 and a 200-day simple moving average of $60.36. The company has a market capitalization 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 (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.

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