MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in Monster Beverage Corporation $MNST

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Monster Beverage Corporation by 9.9% in the first quarter, owning 950,508 shares valued at approximately $55.6 million.
• Wall Street analysts have varying ratings for Monster Beverage, with target prices ranging from $60.00 to $73.00 and an overall consensus target price of $65.10.
• Monster Beverage reported strong earnings, with an EPS of $0.52 in the last quarter, surpassing estimates and reflecting an 11.1% year-over-year revenue growth.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 950,508 shares of the company's stock after buying an additional 85,276 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.10% of Monster Beverage worth $55,623,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage during the first quarter valued at $29,000. Park Square Financial Group LLC purchased a new position in shares of Monster Beverage during the fourth quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Monster Beverage by 37.1% during the first 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. Banque Cantonale Vaudoise bought a new stake in Monster Beverage during the first quarter valued at about $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Monster Beverage by 21.2% during the first 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MNST. 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 report on Friday, August 8th. Redburn Atlantic downgraded 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 report on Wednesday, July 9th. Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Roth Capital reaffirmed a "neutral" rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Finally, Citigroup raised their price target on Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a 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 assigned a Sell rating to the company. According to data from MarketBeat, Monster Beverage currently has an average rating of "Hold" and an average price target of $65.10.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.80% of the company's stock.

Monster Beverage Stock Down 0.8%

Shares of Monster Beverage stock traded down $0.52 on Wednesday, reaching $62.83. 4,819,205 shares of the stock were exchanged, compared to its average volume of 6,041,783. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75. The firm has a market capitalization of $61.35 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.19 and a beta of 0.54. The business has a 50 day moving average price of $61.62 and a two-hundred day moving average price of $60.26.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company 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 company posted $0.41 earnings per share. Monster Beverage's revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.