Perpetual Ltd Purchases New Shares in Monster Beverage Corporation $MNST

Key Points

• Perpetual Ltd acquired 23,301 shares of Monster Beverage Corporation (NASDAQ:MNST), valued at approximately $1,460,000, in the second quarter.
• Monster Beverage reported a quarterly earnings of $0.52 EPS, surpassing expectations and showing an 11.1% increase in revenue year-over-year.
• Institutional investors now own 72.36% of Monster Beverage's stock, with various hedge funds increasing their positions in the company during the second quarter.

Perpetual Ltd bought a new position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,301 shares of the company's stock, valued at approximately $1,460,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Monster Beverage in the 1st quarter worth approximately $29,000. Park Square Financial Group LLC acquired a new stake in Monster Beverage in the fourth quarter valued at approximately $36,000. Webster Bank N. A. acquired a new stake in Monster Beverage during the second quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Monster Beverage by 37.1% during the 1st 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. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Monster Beverage during the 1st quarter worth $43,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 7.80% of the company's stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock traded down $0.51 during trading hours on Friday, reaching $64.13. The company's stock had a trading volume of 13,012,741 shares, compared to its average volume of 5,122,411. The stock has a market cap of $62.62 billion, a P/E ratio of 39.83, a P/E/G ratio of 2.23 and a beta of 0.54. The firm has a 50 day moving average price of $62.16 and a 200-day moving average price of $60.91. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $67.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued 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 business had revenue of $2.11 billion for 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%. Monster Beverage's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MNST shares. Rothschild & Co Redburn cut Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 target price for the company. in a research note on Wednesday, July 9th. Bank of America raised their target price on Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Roth Capital restated a "neutral" rating and set a $60.00 target price (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Morgan Stanley lifted their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group raised their price target on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $65.19.

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.