Northern Trust Corp Boosts Stake in Monster Beverage Corporation $MNST

Key Points

• Northern Trust Corp increased its stake in Monster Beverage Corporation by 1.0%, bringing its total ownership to approximately $434.9 million with 7,431,658 shares, following a purchase of 73,737 shares.
• Several institutional investors, including NewEdge Advisors and Marshall Wace LLP, significantly raised their investments in Monster Beverage, highlighting increased institutional interest in the company.
• Despite insider selling activities, Monster Beverage reported a net margin of 20.54% and a year-over-year revenue increase of 11.1%, along with earnings per share of $0.52 for the last quarter, exceeding analysts' projections.

Northern Trust Corp raised its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,431,658 shares of the company's stock after purchasing an additional 73,737 shares during the quarter. Northern Trust Corp owned 0.76% of Monster Beverage worth $434,901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. NewEdge Advisors LLC raised its position in Monster Beverage by 29.5% in the 4th quarter. NewEdge Advisors LLC now owns 28,702 shares of the company's stock worth $1,509,000 after purchasing an additional 6,538 shares during the period. Marshall Wace LLP grew its stake in Monster Beverage by 27.2% in the 4th quarter. Marshall Wace LLP now owns 114,094 shares of the company's stock worth $5,997,000 after acquiring an additional 24,396 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Monster Beverage by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,303,477 shares of the company's stock worth $173,632,000 after acquiring an additional 400,278 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Monster Beverage by 33.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 29,519 shares of the company's stock worth $1,552,000 after acquiring an additional 7,412 shares in the last quarter. Finally, Ossiam grew its stake in Monster Beverage by 95.0% in the 4th quarter. Ossiam now owns 23,963 shares of the company's stock worth $1,259,000 after acquiring an additional 11,674 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction that occurred 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 sale, the director directly 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 disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.

Monster Beverage Stock Performance

NASDAQ MNST opened at $63.99 on Wednesday. The firm's 50 day moving average price is $61.65 and its 200-day moving average price is $58.80. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $66.75. The company has a market cap of $62.48 billion, a PE ratio of 39.75, a P/E/G ratio of 2.10 and a beta of 0.55.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm earned $0.41 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup upped their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. UBS Group upped their target price on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Truist Financial upped their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Morgan Stanley upped their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $65.10.

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.

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