William Blair Investment Management LLC Acquires 944,278 Shares of Monster Beverage Corporation $MNST

Key Points

• William Blair Investment Management LLC increased its holdings in Monster Beverage Corporation by 42.9%, acquiring an additional 944,278 shares in the second quarter, bringing their total ownership to 3,143,873 shares valued at approximately $196.9 million.
• Monster Beverage's stock ratings show a mixed outlook, with thirteen analysts rating it as a Buy, while others have downgraded it to Hold with a price target of $60.00.
• The company reported a quarterly earnings per share (EPS) of $0.52, exceeding analysts' expectations, and marked an 11.1% revenue growth compared to the previous year.

William Blair Investment Management LLC grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 42.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,143,873 shares of the company's stock after buying an additional 944,278 shares during the quarter. William Blair Investment Management LLC owned 0.32% of Monster Beverage worth $196,932,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Monster Beverage by 2.2% in the 1st quarter. GAMMA Investing LLC now owns 21,433 shares of the company's stock valued at $1,254,000 after acquiring an additional 460 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Monster Beverage by 28.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company's stock worth $2,136,000 after purchasing an additional 8,155 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Monster Beverage by 5.5% in the first quarter. Ritholtz Wealth Management now owns 5,138 shares of the company's stock worth $301,000 after purchasing an additional 267 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Monster Beverage by 142.1% in the first quarter. Exchange Traded Concepts LLC now owns 15,643 shares of the company's stock valued at $915,000 after purchasing an additional 9,181 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in shares of Monster Beverage in the first quarter valued at approximately $336,000. 72.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the subject of several recent research reports. Rothschild & Co Redburn downgraded Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target for the company. in a report on Wednesday, July 9th. Roth Capital reaffirmed a "neutral" rating and set a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Citigroup reiterated a "buy" rating and issued a $79.00 target price (up previously from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Redburn Atlantic lowered shares of Monster Beverage from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of Monster Beverage from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $66.05.

Monster Beverage Price Performance

NASDAQ MNST opened at $70.22 on Friday. The business's fifty day moving average is $65.12 and its 200-day moving average is $62.32. The stock has a market capitalization of $68.56 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 2.44 and a beta of 0.54. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $70.65.

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, topping analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion during 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 quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. Research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Activity at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the company'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 transaction, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.30% of the company's stock.

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.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.