Norinchukin Bank The Raises Position in Monster Beverage Corporation $MNST

Key Points

• Norinchukin Bank increased its stake in Monster Beverage Corporation by 51.4%, owning 66,103 shares valued at approximately $3.87 million after acquiring an additional 22,428 shares in the first quarter.
• Institutional investors collectively own 72.36% of Monster Beverage's stock, indicating strong institutional interest in the company.
• Monster Beverage reported a quarterly earnings per share (EPS) of $0.52, exceeding estimates, with revenue reaching $2.11 billion, an 11.1% increase year-over-year.

Norinchukin Bank The increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 51.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,103 shares of the company's stock after buying an additional 22,428 shares during the quarter. Norinchukin Bank The's holdings in Monster Beverage were worth $3,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Capital Management Inc. raised its stake in shares of Monster Beverage by 11.6% in the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock worth $305,000 after purchasing an additional 540 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Monster Beverage by 2.4% in the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock worth $18,475,000 after purchasing an additional 7,465 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Monster Beverage by 76.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock worth $3,915,000 after purchasing an additional 28,932 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Monster Beverage by 0.9% in the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock worth $75,455,000 after purchasing an additional 11,443 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Monster Beverage by 3.8% in the first quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company's stock worth $24,786,000 after purchasing an additional 15,493 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ:MNST traded down $0.18 during trading on Tuesday, hitting $62.12. 7,031,896 shares of the company were exchanged, compared to its average volume of 6,129,996. The company has a market cap of $60.66 billion, a PE ratio of 38.58, a P/E/G ratio of 2.05 and a beta of 0.55. The stock has a 50 day moving average of $61.67 and a 200 day moving average of $59.35. 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 posted its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (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 the consensus estimate of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. Sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the sale, the chief financial officer owned 69,273 shares in the company, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director owned 51,191 shares in the company, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on MNST shares. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Redburn Atlantic lowered Monster Beverage from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Roth Mkm upped their target price on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. UBS Group upped their target price on Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, TD Cowen upped their target price on Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a report on Friday, May 9th. Twelve equities 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.com, Monster Beverage currently has an average rating of "Hold" and an average target price of $65.10.

About Monster Beverage

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.