Monster Beverage Corporation $MNST Stock Position Trimmed by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp has reduced its stake in Monster Beverage Corporation by 14%, now holding 27,949 shares valued at approximately $1.63 million.
• During the same period, other large investors significantly increased their holdings, with notable increases including a 5,095.6% rise in Assenagon Asset Management's stake.
• Monster Beverage reported a quarterly earnings per share of $0.52, exceeding analyst expectations and showing an 11.1% increase in revenue year-over-year.

OMERS ADMINISTRATION Corp trimmed its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,949 shares of the company's stock after selling 4,550 shares during the period. OMERS ADMINISTRATION Corp's holdings in Monster Beverage were worth $1,636,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock valued at $3,791,313,000 after purchasing an additional 1,151,175 shares in the last quarter. Invesco Ltd. grew its stake in Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company's stock valued at $535,712,000 after purchasing an additional 563,353 shares in the last quarter. Nuveen LLC acquired a new stake in Monster Beverage during the 1st quarter valued at approximately $497,157,000. Northern Trust Corp grew its stake in Monster Beverage by 1.0% during the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company's stock valued at $434,901,000 after purchasing an additional 73,737 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Monster Beverage by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,406,131 shares of the company's stock valued at $284,146,000 after purchasing an additional 493,914 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Cowen raised their price objective on Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Roth Capital restated a "neutral" rating and set a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Royal Bank Of Canada set a $68.00 price objective on shares of Monster Beverage and gave the stock an "outperform" rating in a report on Friday, August 8th. Piper Sandler raised shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Finally, Bank of America raised their price objective on shares of Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $65.10.

Insider Activity

In other news, Director Mark Vidergauz sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.30% of the company's stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock traded down $1.07 during trading hours on Friday, reaching $62.38. The company's stock had a trading volume of 1,938,953 shares, compared to its average volume of 6,070,534. The company's 50 day simple moving average is $61.60 and its 200 day simple moving average is $59.97. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $66.75. The stock has a market cap of $60.91 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 2.21 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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 company 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 posted $0.41 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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.