Mirae Asset Global Investments Co. Ltd. Sells 30,836 Shares of Monster Beverage Corporation $MNST

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its stake in Monster Beverage by 5.6%, selling 30,836 shares, leaving them with 517,041 shares valued at approximately $32.4 million.
• Several institutional investors significantly increased their holdings in Monster Beverage during the 1st quarter, contributing to a total institutional ownership of 72.36%.
• Monster Beverage's recent performance included a quarterly earnings report that exceeded expectations, with earnings of $0.52 EPS and revenues of $2.11 billion, up 11.1% year-over-year.

Mirae Asset Global Investments Co. Ltd. lessened its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 517,041 shares of the company's stock after selling 30,836 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of Monster Beverage worth $32,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MNST. Nuveen LLC bought a new position in shares of Monster Beverage during the 1st quarter worth about $497,157,000. Assenagon Asset Management S.A. increased its holdings in shares of Monster Beverage by 5,095.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after purchasing an additional 3,004,391 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in shares of Monster Beverage by 54.7% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company's stock worth $303,728,000 after purchasing an additional 1,897,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Monster Beverage by 34.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company's stock worth $425,921,000 after purchasing an additional 1,872,075 shares during the period. Finally, Amundi increased its holdings in shares of Monster Beverage by 69.8% during the 1st quarter. Amundi now owns 3,032,591 shares of the company's stock worth $180,894,000 after purchasing an additional 1,246,114 shares during the period. Institutional investors own 72.36% of the company's stock.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MNST has been the topic of several research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Monster Beverage in a report on Saturday, September 27th. Morgan Stanley upped their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Monster Beverage from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Royal Bank Of Canada set a $68.00 target price on shares of Monster Beverage and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price on the stock. in a research note on Wednesday, July 9th. Thirteen investment 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $65.19.

Monster Beverage Stock Down 0.6%

NASDAQ:MNST opened at $67.17 on Friday. The firm has a market cap of $65.59 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $67.89. The company's 50-day moving average price is $63.47 and its two-hundred day moving average price is $61.57.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal 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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