Invesco Ltd. Purchases 563,353 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Key Points

• Invesco Ltd. increased its stake in Monster Beverage Corporation by 6.6%, acquiring an additional 563,353 shares to own approximately 0.94% of the company, valued at $535.7 million.
• Monster Beverage reported $2.11 billion in quarterly revenue and an EPS of $0.52, surpassing analyst expectations, with a year-over-year revenue increase of 11.1%.
• Analysts have set new price targets for Monster Beverage, with Wells Fargo targeting $73.00 and Citigroup raising their target to $74.00, amidst an overall average rating of "Moderate Buy."

Invesco Ltd. boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,154,347 shares of the company's stock after buying an additional 563,353 shares during the period. Invesco Ltd. owned approximately 0.94% of Monster Beverage worth $535,712,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. Federated Hermes Inc. boosted its stake in Monster Beverage by 37.9% during the fourth quarter. Federated Hermes Inc. now owns 5,094 shares of the company's stock valued at $268,000 after buying an additional 1,399 shares during the last quarter. Bessemer Group Inc. boosted its stake in Monster Beverage by 2.2% during the fourth quarter. Bessemer Group Inc. now owns 25,270 shares of the company's stock valued at $1,328,000 after buying an additional 556 shares during the last quarter. F M Investments LLC bought a new position in Monster Beverage during the fourth quarter valued at approximately $218,000. Rockefeller Capital Management L.P. boosted its stake in Monster Beverage by 13.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 36,507 shares of the company's stock valued at $1,922,000 after buying an additional 4,201 shares during the last quarter. Finally, Townsquare Capital LLC boosted its stake in Monster Beverage by 25.7% during the fourth quarter. Townsquare Capital LLC now owns 101,310 shares of the company's stock valued at $5,325,000 after buying an additional 20,686 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Monster Beverage Trading Up 6.4%

MNST opened at $64.69 on Monday. The stock's fifty day moving average is $61.55 and its two-hundred day moving average is $58.12. The company has a market capitalization of $63.09 billion, a P/E ratio of 40.18, a PEG ratio of 2.33 and a beta of 0.55. Monster Beverage Corporation has a 52 week low of $45.19 and a 52 week high of $66.75. The company has a quick ratio of 3.00, a current ratio of 3.52 and a debt-to-equity ratio of 0.03.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released 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. 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% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MNST shares. Truist Financial raised their price objective on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, April 23rd. Roth Mkm raised their price objective on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised their price objective on Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the company an "overweight" rating in a research note on Friday. Finally, Citigroup raised their price objective on Monster Beverage from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.90.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider directly owned 89,501 shares in the company, valued at $5,590,232.46. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer owned 69,273 shares in the company, valued at $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.

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