Invesco LLC Purchases 22,667 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Invesco LLC raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 55.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,637 shares of the company's stock after purchasing an additional 22,667 shares during the period. Monster Beverage makes up about 1.5% of Invesco LLC's investment portfolio, making the stock its 16th largest holding. Invesco LLC's holdings in Monster Beverage were worth $3,724,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MNST. Norges Bank purchased a new position in shares of Monster Beverage in the 4th quarter worth $442,642,000. CIBC Private Wealth Group LLC boosted its stake in shares of Monster Beverage by 659.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after buying an additional 4,231,063 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Monster Beverage by 5,095.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after buying an additional 3,004,391 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Monster Beverage in the 4th quarter worth $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Monster Beverage in the 4th quarter worth $110,942,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monster Beverage

In other news, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the sale, the insider now directly owns 89,501 shares of the company's stock, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the sale, the chief financial officer now directly owns 69,273 shares in the company, valued at $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.30% of the company's stock.

Monster Beverage Price Performance

NASDAQ:MNST traded down $0.48 on Friday, reaching $61.71. 8,486,341 shares of the company's stock traded hands, compared to its average volume of 6,028,503. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $61.95 and a 200-day simple moving average of $56.12. The firm has a market cap of $60.18 billion, a PE ratio of 40.60, a P/E/G ratio of 2.20 and a beta of 0.60. Monster Beverage Corporation has a 12 month low of $43.32 and a 12 month high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.97 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

MNST has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Bank of America raised their price target on Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their price target on Monster Beverage from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Truist Financial raised their target price on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their target price on Monster Beverage from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and a consensus target price of $62.05.

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.