Monster Beverage Corporation $MNST Shares Purchased by Carderock Capital Management Inc.

Key Points

• Carderock Capital Management Inc. increased its stake in Monster Beverage Corporation by 18.4% during the first quarter, owning 54,768 shares valued at approximately $3.2 million.
• Analysts have mixed views on Monster Beverage, with some upgrading its rating and others downgrading it; the average price target stands at $65.10.
• Monster Beverage reported quarterly earnings of $0.52 per share, exceeding analysts' expectations and indicating an 11.1% year-over-year revenue growth.

Carderock Capital Management Inc. increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 18.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 54,768 shares of the company's stock after purchasing an additional 8,522 shares during the period. Carderock Capital Management Inc.'s holdings in Monster Beverage were worth $3,205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Monster Beverage during the first quarter worth $29,000. Park Square Financial Group LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Monster Beverage by 37.1% in the 1st 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 acquired a new position in Monster Beverage during the 1st quarter worth about $43,000. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in Monster Beverage by 21.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MNST. Wall Street Zen downgraded Monster Beverage from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Morgan Stanley raised their price objective 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. Piper Sandler upgraded shares of 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 report on Thursday, August 7th. Roth Mkm upped their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Monster Beverage currently has an average rating of "Hold" and an average price target of $65.10.

Monster Beverage Stock Performance

MNST stock opened at $62.83 on Thursday. The company's 50 day moving average price is $61.62 and its 200 day moving average price is $60.28. The firm has a market capitalization of $61.35 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.20 and a beta of 0.54. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $66.75.

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

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company's stock.

Monster Beverage Company 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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