Prudential PLC Trims Stock Holdings in Monster Beverage Corporation (NASDAQ:MNST)

Key Points

• Prudential PLC reduced its stake in Monster Beverage Corporation by 21.3%, selling 16,756 shares, resulting in ownership of 61,765 shares valued at approximately $3.61 million as of the end of the first quarter.
• In the most recent quarterly earnings report, Monster Beverage announced $2.11 billion in revenue, surpassing expectations, with a net margin of 20.54% and earnings per share of $0.52.
• Several analysts have increased their target prices for Monster Beverage stock, with Morgan Stanley raising its target from $70.00 to $74.00 and maintaining an "overweight" rating.

Prudential PLC cut its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 21.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,765 shares of the company's stock after selling 16,756 shares during the period. Prudential PLC's holdings in Monster Beverage were worth $3,614,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Twin Capital Management Inc. raised its stake in Monster Beverage by 11.6% in the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock valued at $305,000 after buying an additional 540 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Monster Beverage by 2.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock worth $18,475,000 after purchasing an additional 7,465 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Monster Beverage by 76.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock worth $3,915,000 after purchasing an additional 28,932 shares during the last quarter. Principal Financial Group Inc. increased its stake in Monster Beverage by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock valued at $75,455,000 after purchasing an additional 11,443 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Monster Beverage by 3.8% in the first quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company's stock worth $24,786,000 after buying an additional 15,493 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Stock Up 0.7%

MNST stock traded up $0.44 on Friday, reaching $64.64. 4,845,731 shares of the company's stock were exchanged, compared to its average volume of 6,720,911. The stock has a fifty day moving average of $61.61 and a 200-day moving average of $58.59. The firm has a market cap of $63.12 billion, a PE ratio of 40.15, a P/E/G ratio of 2.12 and a beta of 0.55. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75.

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

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 27,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Vidergauz sold 10,000 shares of the company'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 transaction of $637,300.00. Following the transaction, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MNST. Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. Bank of America raised their target price 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. Rothschild & Co Redburn lowered shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target on the stock. in a report on Wednesday, July 9th. The Goldman Sachs Group lifted their price objective on Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Morgan Stanley raised their target price on Monster Beverage from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.10.

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.