OVERSEA CHINESE BANKING Corp Ltd Purchases 115,240 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Key Points

• Oversea Chinese Banking Corp Ltd significantly increased its stake in Monster Beverage Corporation by 438.2%, acquiring an additional 115,240 shares, bringing its total holdings to 141,540 shares valued at approximately $8.28 million.
• Analysts have generally positive outlooks for Monster Beverage, with several upgrades in price targets; for instance, Morgan Stanley raised its target from $65.00 to $70.00, and Stifel Nicolaus issued a "buy" rating with a $72.00 price target.
• Monster Beverage reported an earnings per share (EPS) of $0.47 for the most recent quarter, beating expectations slightly, although its revenue saw a year-over-year decline of 2.3%.

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 438.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,540 shares of the company's stock after purchasing an additional 115,240 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Monster Beverage were worth $8,280,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Monster Beverage during the 1st quarter worth about $29,000. Coppell Advisory Solutions LLC raised its position in shares of Monster Beverage by 259.2% in the fourth quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after purchasing an additional 495 shares during the period. Park Square Financial Group LLC bought a new position in shares of Monster Beverage in the fourth quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock valued at $42,000 after purchasing an additional 196 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the first quarter valued at about $43,000. Institutional investors own 72.36% of the company's stock.

Monster Beverage Trading Up 0.7%

Shares of MNST stock traded up $0.44 during trading hours on Wednesday, hitting $59.48. 8,705,203 shares of the company were exchanged, compared to its average volume of 6,120,683. The firm has a market cap of $58.00 billion, a P/E ratio of 39.13, a P/E/G ratio of 2.17 and a beta of 0.55. Monster Beverage Corporation has a fifty-two week low of $43.32 and a fifty-two week high of $64.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The company has a 50 day simple moving average of $61.67 and a two-hundred day simple moving average of $57.79.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm posted $0.42 EPS. Monster Beverage's revenue was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Ratings Changes

MNST has been the topic of several research reports. Roth Mkm upped their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Jefferies Financial Group increased their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group increased their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Piper Sandler increased their price objective on shares of Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, UBS Group increased their target price on shares of Monster Beverage from $63.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Monster Beverage presently has an average rating of "Hold" and a consensus price target of $61.91.

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the completion of the sale, the insider owned 89,501 shares of the company's stock, valued at approximately $5,590,232.46. This trade represents a 8.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction on Thursday, May 29th. The stock was 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 $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.30% of the company's stock.

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.