Vident Advisory LLC Purchases 8,847 Shares of Monster Beverage Corporation $MNST

Key Points

• Vident Advisory LLC increased its holdings in Monster Beverage Corporation by 43.7%, purchasing an additional 8,847 shares to reach a total of 29,084 shares worth approximately $1.7 million.
• Monster Beverage reported earnings of $0.52 per share, exceeding estimates, with a revenue of $2.11 billion, marking an 11.1% increase from the previous year.
• Analysts have raised their price targets for Monster Beverage, with Goldman Sachs setting a new target of $72.00, while the stock has an average consensus target of $65.10.

Vident Advisory LLC lifted its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 43.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,084 shares of the company's stock after purchasing an additional 8,847 shares during the quarter. Vident Advisory LLC's holdings in Monster Beverage were worth $1,702,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MNST. Nuveen LLC bought a new stake in shares of Monster Beverage in the first quarter worth about $497,157,000. Assenagon Asset Management S.A. increased its stake in Monster Beverage by 5,095.6% during the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after acquiring an additional 3,004,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Monster Beverage during the fourth quarter worth approximately $110,942,000. Montrusco Bolton Investments Inc. increased its stake in Monster Beverage by 54.7% during the first 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 increased its stake in Monster Beverage by 5,880.4% during the first 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 owned by institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $62.67 on Wednesday. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $66.75. The business has a 50 day simple moving average of $61.55 and a two-hundred day simple moving average of $59.85. The firm has a market capitalization of $61.19 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.04 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results 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. 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 analyst estimates of $2.08 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

MNST has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Roth Mkm boosted their price objective on Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada set a $68.00 price objective on Monster Beverage and gave the stock an "outperform" rating in a research note on Friday, August 8th. TD Cowen boosted their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Finally, Piper Sandler raised Monster Beverage from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $65.10.

Insider Activity

In related news, Director Mark Vidergauz sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director owned 51,191 shares in the company, valued at approximately $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. Insiders own 7.80% of the company's stock.

About Monster Beverage

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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