Parcion Private Wealth LLC Invests $331,000 in Monster Beverage Corporation $MNST

Key Points

• Parcion Private Wealth LLC invested approximately $331,000 in Monster Beverage Corporation (NASDAQ: MNST) during the second quarter, acquiring 5,283 shares.
• Monster Beverage reported a quarterly earnings per share of $0.52, surpassing analysts' expectations, with year-over-year revenue growth of 11.1%.
• The company has a market capitalization of $68.08 billion and a consensus target price of $66.05, with significant backing from institutional investors, owning 72.36% of the stock.

Parcion Private Wealth LLC purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,283 shares of the company's stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock worth $3,791,313,000 after acquiring an additional 1,151,175 shares during the period. Invesco Ltd. increased its stake in shares of Monster Beverage by 6.6% during the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company's stock worth $535,712,000 after acquiring an additional 563,353 shares during the period. Ninety One UK Ltd increased its stake in shares of Monster Beverage by 4.9% during the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company's stock worth $560,282,000 after acquiring an additional 418,918 shares during the period. Nuveen LLC acquired a new position in shares of Monster Beverage during the first quarter worth about $497,157,000. Finally, Northern Trust Corp increased its stake in shares of Monster Beverage by 1.0% during the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company's stock worth $434,901,000 after acquiring an additional 73,737 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Price Performance

NASDAQ:MNST opened at $69.72 on Thursday. The firm has a 50 day simple moving average of $65.45 and a 200-day simple moving average of $62.54. The firm has a market cap of $68.08 billion, a PE ratio of 43.30, a P/E/G ratio of 2.40 and a beta of 0.54. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $70.72.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler raised shares of Monster Beverage from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Bank of America upped their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Roth Capital reaffirmed a "neutral" rating and issued a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada upped their price target on shares of Monster Beverage from $68.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, October 10th. Thirteen 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 stock. According to data from MarketBeat, Monster Beverage presently has a consensus rating of "Hold" and a consensus target price of $66.05.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company's stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

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.

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