Monster Beverage Corporation $MNST Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its Monster Beverage stake by 19.6% in the first quarter, buying 77,485 additional shares and lifting its holdings to 472,529 shares worth about $34.2 million.
• Monster Beverage announced a 2-for-1 stock split in the form of a 100% stock dividend, with the record date set for July 24 and split-adjusted trading expected to begin on August 11.
• Analyst sentiment remained broadly bullish, with Wells Fargo, RBC, and others raising price targets; Monster also beat quarterly earnings and revenue estimates, while the board authorized a $500 million share buyback.

Swedbank AB lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 19.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,529 shares of the company's stock after purchasing an additional 77,485 shares during the period. Swedbank AB's holdings in Monster Beverage were worth $34,239,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Harbor Investment Advisory LLC grew its holdings in Monster Beverage by 136.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company's stock valued at $27,000 after buying an additional 205 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of Monster Beverage in the fourth quarter worth $30,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company's stock worth $28,000 after acquiring an additional 415 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Monster Beverage in the fourth quarter valued at $35,000. Finally, Miller Capital Partners Inc. purchased a new stake in shares of Monster Beverage in the fourth quarter valued at $36,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage News Roundup

Here are the key news stories impacting Monster Beverage this week:

• Positive Sentiment: Monster Beverage announced a 2-for-1 stock split in the form of a 100% stock dividend, with record date set for July 24 and the split-adjusted shares expected to begin trading on August 11. Stock splits often boost investor interest and improve trading liquidity. Monster Beverage Declares Two-for-One Stock Split
• Positive Sentiment: Wells Fargo raised its price target on Monster Beverage to $105 from $97 and kept an overweight rating, signaling confidence in further upside. Wells Fargo price target hike
• Positive Sentiment: Royal Bank of Canada increased its target to $97 from $88 and maintained an outperform rating, adding to bullish sentiment around the stock. RBC price target hike
• Neutral Sentiment: TD Cowen also lifted its price target to $95 from $90, but kept a hold rating, suggesting limited near-term upside from its view. TD Cowen price target hike

Insider Activity at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 10,000 shares of Monster Beverage stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total value of $857,400.00. Following the transaction, the insider owned 71,763 shares in the company, valued at $6,152,959.62. This trade represents a 12.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Guy Carling sold 19,000 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the sale, the chief executive officer directly owned 21,863 shares of the company's stock, valued at $1,987,346.70. This represents a 46.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 178,700 shares of company stock valued at $15,457,562 in the last ninety days. 8.10% of the stock is owned by company insiders.

Monster Beverage Trading Down 1.8%

Shares of NASDAQ:MNST opened at $95.15 on Thursday. The firm has a market cap of $93.06 billion, a price-to-earnings ratio of 45.97, a PEG ratio of 3.19 and a beta of 0.53. The stock's 50-day moving average price is $89.22 and its two-hundred day moving average price is $81.91. Monster Beverage Corporation has a 12-month low of $58.09 and a 12-month high of $99.15.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, research analysts forecast that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.

Monster Beverage announced that its board has initiated a share buyback plan on Friday, May 15th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Monster Beverage from $81.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Royal Bank Of Canada upped their target price on shares of Monster Beverage from $88.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday. Bank of America decreased their price target on shares of Monster Beverage from $100.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Sanford C. Bernstein initiated coverage on shares of Monster Beverage in a report on Friday, June 12th. They set a "market perform" rating and a $95.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Monster Beverage from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $90.95.

Monster Beverage Profile

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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