Vanguard Personalized Indexing Management LLC Boosts Position in Monster Beverage Corporation $MNST

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Monster Beverage Corporation by 36.9% during Q2, now holding 132,122 shares valued at $8.28 million.
• Monster Beverage reported $2.11 billion in revenue for the latest quarter, exceeding analysts' expectations, with earnings per share rising to $0.52.
• Multiple brokerages have issued revised price targets for Monster Beverage, with Bank of America increasing its target to $75.00 and a consensus price target of $66.05 among analysts.

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 36.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,122 shares of the company's stock after buying an additional 35,593 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Monster Beverage were worth $8,276,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Monster Beverage by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company's stock worth $3,791,313,000 after buying an additional 1,151,175 shares during the last quarter. Invesco Ltd. raised its position in Monster Beverage by 6.6% during the 1st quarter. Invesco Ltd. now owns 9,154,347 shares of the company's stock worth $535,712,000 after buying an additional 563,353 shares during the last quarter. Ninety One UK Ltd raised its position in Monster Beverage by 4.9% during the 2nd quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company's stock worth $560,282,000 after buying an additional 418,918 shares during the last quarter. Nuveen LLC purchased a new position in Monster Beverage during the 1st quarter worth approximately $497,157,000. Finally, Northern Trust Corp raised its position in Monster Beverage by 1.0% during the 1st quarter. Northern Trust Corp now owns 7,431,658 shares of the company's stock worth $434,901,000 after buying an additional 73,737 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction 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 sale, the director owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company's stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $69.62 on Monday. The company's fifty day moving average price is $64.31 and its 200 day moving average price is $62.01. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.06. The stock has a market capitalization of $67.98 billion, a P/E ratio of 43.24, a P/E/G ratio of 2.42 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released 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. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.08 billion. During the same quarter last year, the company earned $0.41 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MNST. UBS Group raised their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Bank of America raised their price objective on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Piper Sandler raised shares of Monster Beverage from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Finally, Redburn Atlantic cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their price objective for the stock from $63.00 to $60.00 in a research note on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $66.05.

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.

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