Monster Beverage Corporation $MNST Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Monster Beverage Corporation by 28.6%, acquiring an additional 79,900 shares and bringing its total holdings to 359,594 shares valued at approximately $22.5 million.
• Institutional investors and hedge funds control 72.36% of Monster Beverage's stock, indicating significant institutional interest in the company.
• Monster Beverage's recent earnings report showed a profit of $0.52 per share, exceeding analyst expectations, with revenue of $2.11 billion, an 11.1% increase from the same quarter last year.

KLP Kapitalforvaltning AS increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 28.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 359,594 shares of the company's stock after purchasing an additional 79,900 shares during the period. KLP Kapitalforvaltning AS's holdings in Monster Beverage were worth $22,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SteelPeak Wealth LLC acquired a new position in shares of Monster Beverage during the second quarter worth $1,783,000. Prime Capital Investment Advisors LLC grew its stake in shares of Monster Beverage by 8.1% during the second quarter. Prime Capital Investment Advisors LLC now owns 6,293 shares of the company's stock worth $394,000 after purchasing an additional 470 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of Monster Beverage by 385.4% during the second quarter. Belpointe Asset Management LLC now owns 18,231 shares of the company's stock worth $1,142,000 after purchasing an additional 14,475 shares in the last quarter. Petros Family Wealth LLC acquired a new position in shares of Monster Beverage during the second quarter worth $366,000. Finally, Valeo Financial Advisors LLC grew its stake in shares of Monster Beverage by 9.6% during the second quarter. Valeo Financial Advisors LLC now owns 7,192 shares of the company's stock worth $450,000 after purchasing an additional 629 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Roth Capital restated a "neutral" rating and issued a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Stifel Nicolaus assumed coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They issued a "buy" rating and a $72.00 price objective for the company. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective for the company. in a research note on Wednesday, July 9th. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $54.00 to $74.00 in a research note on Thursday, August 7th. Finally, Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the company an "overweight" rating in a research note on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of "Hold" and an average target price of $65.19.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated 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 sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

Shares of MNST opened at $68.15 on Wednesday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $68.28. The company has a market capitalization of $66.54 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 2.33 and a beta of 0.54. The firm has a 50-day simple moving average of $63.74 and a 200-day simple moving average of $61.75.

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

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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