Douglass Winthrop Advisors LLC Acquires 60,390 Shares of Monster Beverage Corporation $MNST

Key Points

• Douglass Winthrop Advisors LLC increased its stake in Monster Beverage Corporation by 3.9%, owning 1,628,634 shares valued at approximately $95.3 million, making it the fund's 24th largest holding.
• Monster Beverage reported a quarterly EPS of $0.52, surpassing analysts' expectations, with revenue of $2.11 billion, an 11.1% year-over-year increase.
• Analysts have raised their price targets for Monster Beverage, with Goldman Sachs setting a new target of $72, indicating a positive outlook on the stock.

Douglass Winthrop Advisors LLC lifted its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,628,634 shares of the company's stock after buying an additional 60,390 shares during the period. Monster Beverage comprises 1.8% of Douglass Winthrop Advisors LLC's portfolio, making the stock its 24th biggest holding. Douglass Winthrop Advisors LLC owned approximately 0.17% of Monster Beverage worth $95,308,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. AlphaQuest LLC lifted its stake in shares of Monster Beverage by 699.3% in the first quarter. AlphaQuest LLC now owns 26,192 shares of the company's stock valued at $1,533,000 after buying an additional 22,915 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Monster Beverage by 1.9% in the first quarter. Ameriprise Financial Inc. now owns 1,652,854 shares of the company's stock valued at $96,754,000 after buying an additional 31,409 shares during the period. Norinchukin Bank The lifted its stake in shares of Monster Beverage by 51.4% in the first quarter. Norinchukin Bank The now owns 66,103 shares of the company's stock valued at $3,868,000 after buying an additional 22,428 shares during the period. United Asset Strategies Inc. lifted its stake in shares of Monster Beverage by 2.6% in the first quarter. United Asset Strategies Inc. now owns 152,698 shares of the company's stock valued at $8,936,000 after buying an additional 3,871 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Monster Beverage by 46.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,657,544 shares of the company's stock valued at $155,520,000 after buying an additional 841,194 shares during the period. Institutional investors own 72.36% of the company's stock.

Monster Beverage Stock Up 1.0%

MNST stock traded up $0.61 during midday trading on Thursday, reaching $62.34. The company's stock had a trading volume of 1,522,282 shares, compared to its average volume of 6,117,842. The business's 50-day simple moving average is $61.62 and its 200-day simple moving average is $59.39. The stock has a market cap of $60.87 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.03 and a beta of 0.55. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $66.75.

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 for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price for the company. in a research note on Wednesday, July 9th. Morgan Stanley increased their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. TD Cowen increased their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Stifel Nicolaus initiated coverage on shares of Monster Beverage in a research report on Thursday, June 12th. They issued a "buy" rating and a $72.00 price target for the company. Finally, UBS Group increased their price target on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Monster Beverage has an average rating of "Hold" and a consensus price target of $65.10.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated 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 transaction, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.30% of the company's stock.

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.