Panagora Asset Management Inc. Acquires 6,442 Shares of Monster Beverage Corporation $MNST

Key Points

• Panagora Asset Management Inc. increased its holdings in Monster Beverage Corporation by 22.4% by purchasing 6,442 additional shares, bringing its total to 35,209 shares valued at approximately $2.06 million.
• Multiple hedge funds, including Wayfinding Financial LLC and Park Square Financial Group LLC, have also acquired new positions in Monster Beverage, indicating a growing interest among institutional investors.
• Analyst ratings for Monster Beverage show a mix of opinions, with 12 analysts issuing a Buy rating, eight a Hold rating, and two a Sell rating, reflecting a consensus rating of "Hold" with an average price target of $65.10.

Panagora Asset Management Inc. grew its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 22.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,209 shares of the company's stock after purchasing an additional 6,442 shares during the quarter. Panagora Asset Management Inc.'s holdings in Monster Beverage were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MNST. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the first quarter worth approximately $29,000. Park Square Financial Group LLC bought a new position in shares of Monster Beverage in the fourth quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. boosted 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 worth $42,000 after purchasing an additional 196 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Monster Beverage in the first quarter worth approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Monster Beverage by 21.2% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,314 shares of the company's stock worth $77,000 after purchasing an additional 230 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MNST has been the subject of a number of recent analyst reports. Roth Mkm upped their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada set a $68.00 price target on shares of Monster Beverage and gave the stock an "outperform" rating in a research report on Friday, August 8th. UBS Group upped their price target on shares of Monster Beverage from $64.00 to $67.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price on the stock. in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.10.

Monster Beverage Stock Performance

MNST stock opened at $62.67 on Wednesday. The company has a market capitalization of $61.19 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.04 and a beta of 0.54. The company's fifty day moving average price is $61.55 and its 200-day moving average price is $59.85. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. Monster Beverage's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, research analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the company's stock in a transaction 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 owned 51,191 shares of the company's stock, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.80% of the stock is currently owned by insiders.

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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