Nordea Investment Management AB Purchases 22,960 Shares of Monster Beverage Corporation $MNST

Key Points

• Nordea Investment Management AB increased its stake in Monster Beverage Corporation by 1.1% during Q2, acquiring an additional 22,960 shares, bringing its total ownership to about 2.19 million shares valued at approximately $136 million.
• Several institutional investors adjusted their positions in Monster Beverage, with a reported 72.36% of the company's stock now owned by institutional holders.
• Monster Beverage's recent Q2 earnings report showed an EPS of $0.52, surpassing estimates and marking an 11.1% year-over-year revenue increase to $2.11 billion.

Nordea Investment Management AB grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,191,598 shares of the company's stock after acquiring an additional 22,960 shares during the period. Nordea Investment Management AB owned 0.22% of Monster Beverage worth $136,054,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MNST. Wayfinding Financial LLC bought a new position in Monster Beverage in the 1st quarter worth approximately $29,000. Webster Bank N. A. bought a new position in Monster Beverage in the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after purchasing an additional 196 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Monster Beverage in the 1st quarter worth approximately $43,000. Finally, Ameritas Advisory Services LLC bought a new position in Monster Beverage in the 2nd quarter worth approximately $55,000. Institutional investors own 72.36% of the company's stock.

Insider Activity

In other 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 value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in 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 report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Rothschild & Co Redburn cut 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 report on Wednesday, July 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monster Beverage in a report on Wednesday, October 8th. Finally, Bank of America lifted their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Monster Beverage has an average rating of "Hold" and an average price target of $66.05.

Monster Beverage Stock Performance

MNST opened at $70.22 on Friday. The company has a fifty day moving average price of $65.12 and a two-hundred day moving average price of $62.32. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.65. The firm has a market capitalization of $68.56 billion, a PE ratio of 43.61, a P/E/G ratio of 2.44 and a beta of 0.54.

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 (EPS) for the quarter, beating 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 company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The firm's 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 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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