Vestmark Advisory Solutions Inc. Has $1.10 Million Holdings in Monster Beverage Corporation $MNST

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Monster Beverage Corporation by 207.3%, now owning 18,747 shares valued at approximately $1.10 million.
• Monster Beverage reported a quarterly earnings per share (EPS) of $0.52, surpassing expectations and achieving 11.1% revenue growth compared to the previous year.
• Analyst ratings for Monster Beverage are mixed, with two sell ratings, eight hold ratings, and thirteen buy ratings, indicating a consensus average rating of "Hold" and a price target of $65.10.

Vestmark Advisory Solutions Inc. raised its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 207.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,747 shares of the company's stock after buying an additional 12,647 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Monster Beverage were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its stake in shares of Monster Beverage by 13.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 36,507 shares of the company's stock valued at $1,922,000 after purchasing an additional 4,201 shares in the last quarter. Mariner LLC lifted its position in Monster Beverage by 4.0% during the 4th quarter. Mariner LLC now owns 141,646 shares of the company's stock valued at $7,445,000 after purchasing an additional 5,409 shares during the period. CreativeOne Wealth LLC lifted its position in Monster Beverage by 1.9% during the 4th quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company's stock valued at $622,000 after purchasing an additional 217 shares during the period. NewEdge Advisors LLC raised its position in shares of Monster Beverage by 29.5% in the 4th quarter. NewEdge Advisors LLC now owns 28,702 shares of the company's stock valued at $1,509,000 after acquiring an additional 6,538 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Monster Beverage by 27.2% in the 4th quarter. Marshall Wace LLP now owns 114,094 shares of the company's stock valued at $5,997,000 after acquiring an additional 24,396 shares during the period. Institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler upgraded shares of Monster Beverage from a "neutral" rating to an "overweight" rating and increased their price target for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. 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. Roth Mkm raised their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Citigroup raised their target price on shares of Monster Beverage from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Redburn Atlantic downgraded shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $65.10.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 27,000 shares of the business'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 completion of the sale, the chief financial officer owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Vidergauz sold 10,000 shares of the business's 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 completion of the sale, the director directly owned 51,191 shares of the company's stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

Monster Beverage Trading Up 0.6%

Shares of NASDAQ MNST traded up $0.40 during mid-day trading on Wednesday, hitting $64.39. The company had a trading volume of 4,952,222 shares, compared to its average volume of 6,180,948. The company has a market capitalization of $62.87 billion, a PE ratio of 39.99, a price-to-earnings-growth ratio of 2.10 and a beta of 0.55. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $66.75. The firm has a 50-day simple moving average of $61.65 and a two-hundred day simple moving average of $58.80.

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

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.