Free Trial

Vanguard Group Inc. Buys 1,151,175 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Monster Beverage logo with Consumer Staples background

Key Points

  • Vanguard Group Inc. increased its stake in Monster Beverage Corporation by 1.8%, acquiring an additional 1,151,175 shares, bringing its total to 64,786,624 shares, which is approximately 6.64% of the company.
  • Analysts have been bullish on Monster Beverage, with Goldman Sachs and Morgan Stanley boosting their price targets to $72.00 and $70.00 respectively, while assigning buy ratings.
  • Monster Beverage reported a quarterly earnings of $0.52 per share, exceeding expectations, with revenues of $2.11 billion, reflecting an 11.1% year-over-year increase.
  • Need Better Tools to Track Monster Beverage? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Vanguard Group Inc. lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,786,624 shares of the company's stock after acquiring an additional 1,151,175 shares during the quarter. Vanguard Group Inc. owned approximately 6.64% of Monster Beverage worth $3,791,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its holdings in Monster Beverage by 5,095.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after purchasing an additional 3,004,391 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Monster Beverage during the 4th quarter worth $121,575,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Monster Beverage during the 4th quarter worth $110,942,000. Montrusco Bolton Investments Inc. grew its position in Monster Beverage by 54.7% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company's stock worth $303,728,000 after acquiring an additional 1,897,466 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Monster Beverage by 5,880.4% during the 1st quarter. GAMMA Investing LLC now owns 1,254,259 shares of the company's stock worth $73,399,000 after acquiring an additional 1,233,286 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the sale, the insider owned 89,501 shares in the company, valued at $5,590,232.46. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $63.40, for a total value of $1,711,800.00. Following the sale, the chief financial officer owned 69,273 shares in the company, valued at $4,391,908.20. The trade was a 28.05% decrease in their position. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by company insiders.

Monster Beverage Stock Performance

Shares of Monster Beverage stock traded up $3.89 during trading hours on Friday, reaching $64.69. The company had a trading volume of 12,216,027 shares, compared to its average volume of 6,160,069. Monster Beverage Corporation has a one year low of $45.19 and a one year high of $66.75. The business has a fifty day simple moving average of $61.55 and a 200 day simple moving average of $58.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.37 and a quick ratio of 2.78. The firm has a market cap of $63.09 billion, a PE ratio of 40.18, a price-to-earnings-growth ratio of 2.36 and a beta of 0.55.

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 (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a return on equity of 28.71% and a net margin of 20.54%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on MNST. Wells Fargo & Company set a $73.00 price objective on Monster Beverage and gave the stock an "overweight" rating in a research report on Friday. Roth Capital boosted their price objective on Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Bank of America upped their price target on Monster Beverage from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday. Roth Mkm upped their price target on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Finally, UBS Group reissued a "neutral" rating and issued a $67.00 price objective (up from $64.00) on shares of Monster Beverage in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.90.

Check Out Our Latest Analysis on MNST

Monster Beverage Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

Should You Invest $1,000 in Monster Beverage Right Now?

Before you consider Monster Beverage, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monster Beverage wasn't on the list.

While Monster Beverage currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Growth Stocks That Could Pop Before Summer Ends
3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines