Monster Beverage Corporation $MNST Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Monster Beverage by 4.8%, holding 534,225 shares valued at approximately $33.46 million as of the last reporting period.
• Quarterly earnings for Monster Beverage beat estimates with an EPS of $0.52, surpassing the consensus of $0.48, and reported revenues of $2.11 billion.
• Institutional investors own 72.36% of Monster Beverage's stock, reflecting strong investor interest in the company.

Aberdeen Group plc lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 534,225 shares of the company's stock after purchasing an additional 24,368 shares during the quarter. Aberdeen Group plc owned about 0.05% of Monster Beverage worth $33,464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. PDS Planning Inc increased its holdings in shares of Monster Beverage by 14.6% in the second quarter. PDS Planning Inc now owns 5,554 shares of the company's stock valued at $348,000 after purchasing an additional 706 shares during the last quarter. Blue Trust Inc. increased its stake in Monster Beverage by 6.7% during the second quarter. Blue Trust Inc. now owns 3,293 shares of the company's stock worth $206,000 after acquiring an additional 207 shares during the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in Monster Beverage during the second quarter worth $362,000. Vivid Wealth Management LLC acquired a new stake in Monster Beverage during the second quarter worth $2,340,000. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Monster Beverage by 160.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 68,714 shares of the company's stock worth $4,304,000 after acquiring an additional 42,380 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Up 0.9%

NASDAQ:MNST opened at $69.62 on Monday. The firm has a market cap of $67.98 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The stock has a fifty day moving average price of $64.31 and a 200 day moving average price of $62.01. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.06.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate 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%. Monster Beverage's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Equities analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company'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 transaction of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.30% of the company's stock.

Wall Street Analysts Forecast Growth

MNST has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Citigroup reissued a "buy" rating and set a $79.00 target price (up previously from $76.00) on shares of Monster Beverage in a research note on Thursday. JPMorgan Chase & Co. raised their target price on Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Roth Capital reaffirmed a "neutral" rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Finally, Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Thirteen research 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's stock. According to MarketBeat, Monster Beverage currently has an average rating of "Hold" and an average target price of $66.05.

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.

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