Invesco LLC Grows Stake in Monster Beverage Corporation (NASDAQ:MNST)

Invesco LLC grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 55.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 63,637 shares of the company's stock after acquiring an additional 22,667 shares during the period. Monster Beverage accounts for approximately 1.5% of Invesco LLC's investment portfolio, making the stock its 16th biggest position. Invesco LLC's holdings in Monster Beverage were worth $3,724,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Monster Beverage by 35.2% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,086 shares of the company's stock valued at $122,000 after buying an additional 543 shares during the period. Legacy Advisors LLC bought a new position in shares of Monster Beverage during the first quarter valued at $217,000. Asset Management One Co. Ltd. lifted its holdings in shares of Monster Beverage by 3.8% during the first quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company's stock worth $24,786,000 after purchasing an additional 15,493 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Monster Beverage by 16.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 75,010 shares of the company's stock worth $4,390,000 after purchasing an additional 10,640 shares during the last quarter. Finally, M3 Advisory Group LLC acquired a new stake in Monster Beverage in the first quarter valued at $204,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Performance

Shares of NASDAQ MNST traded up $0.36 during mid-day trading on Tuesday, reaching $63.57. 4,658,551 shares of the company's stock were exchanged, compared to its average volume of 6,034,451. The firm has a 50-day moving average price of $61.62 and a two-hundred day moving average price of $55.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. The firm has a market capitalization of $62.00 billion, a price-to-earnings ratio of 41.82, a price-to-earnings-growth ratio of 2.23 and a beta of 0.60. Monster Beverage Corporation has a 52 week low of $43.32 and a 52 week high of $64.45.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MNST shares. Wells Fargo & Company boosted their price target on shares of Monster Beverage from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Truist Financial increased their price target on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Jefferies Financial Group boosted their price objective on Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Roth Mkm raised their target price on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Finally, CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $56.00 to $65.00 in a research note on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.05.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 27,000 shares of the firm's 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 sale, the chief financial officer now owns 69,273 shares of the company's stock, valued at $4,391,908.20. This trade represents a 28.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the sale, the insider now 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 disclosure for this sale can be found here. Corporate insiders own 7.80% 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.