State of Wyoming Takes $278,000 Position in Monster Beverage Corporation $MNST

Key Points

• The State of Wyoming has acquired a new stake in Monster Beverage Corporation valued at approximately $278,000 by purchasing 4,744 shares in the first quarter.
• Several hedge funds have increased their holdings in Monster Beverage, with notable increases from firms like Twin Capital Management and Cambridge Investment Research Advisors.
• Wall Street analysts have varied ratings for Monster Beverage, with a mix of buy, hold, and sell ratings, and an average target price of $65.10.

State of Wyoming acquired a new stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,744 shares of the company's stock, valued at approximately $278,000.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MNST. UBS Group increased their price objective on shares of Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Stifel Nicolaus started coverage on shares of Monster Beverage in a research note on Thursday, June 12th. They issued a "buy" rating and a $72.00 target price for the company. Citigroup lifted their price objective on shares of Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Redburn Atlantic downgraded shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $63.00 to $60.00 in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada set a $68.00 target price on shares of Monster Beverage and gave the stock an "outperform" rating in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $65.10.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.80% of the stock is owned by company insiders.

Monster Beverage Trading Up 0.4%

MNST opened at $62.67 on Wednesday. The firm's 50-day moving average price is $61.55 and its 200 day moving average price is $59.85. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $66.75. The firm has a market capitalization of $61.19 billion, a PE ratio of 38.93, a PEG ratio of 2.04 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. Monster Beverage's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

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.

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