Invesco LLC Increases Position in Monster Beverage Corporation $MNST

Invesco LLC lifted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 66,180 shares of the company’s stock after purchasing an additional 2,543 shares during the period. Monster Beverage makes up approximately 1.5% of Invesco LLC’s investment portfolio, making the stock its 13th biggest position. Invesco LLC’s holdings in Monster Beverage were worth $4,146,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Twin Capital Management Inc. boosted its stake in shares of Monster Beverage by 11.6% in the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock worth $305,000 after acquiring an additional 540 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Monster Beverage by 2.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company’s stock worth $18,475,000 after purchasing an additional 7,465 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Monster Beverage by 76.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock worth $3,915,000 after purchasing an additional 28,932 shares during the period. Principal Financial Group Inc. grew its holdings in Monster Beverage by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company’s stock valued at $75,455,000 after buying an additional 11,443 shares in the last quarter. Finally, OMNI 360 Wealth Inc. bought a new stake in shares of Monster Beverage during the second quarter valued at approximately $365,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST stock opened at $65.34 on Monday. The stock has a 50 day moving average price of $62.72 and a 200 day moving average price of $61.25. The firm has a market capitalization of $63.80 billion, a P/E ratio of 40.58, a P/E/G ratio of 2.27 and a beta of 0.54. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $67.13.

Monster Beverage (NASDAQ:MNST) last released 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. 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 for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Analysts Set New Price Targets

MNST has been the subject of a number of research reports. Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the stock an “overweight” rating in a research report on Friday, August 8th. The Goldman Sachs Group raised their price objective on Monster Beverage from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Redburn Atlantic cut Monster Beverage from a “strong-buy” rating to a “hold” rating and reduced their target price for the stock from $63.00 to $60.00 in a report on Wednesday, July 9th. Bank of America increased their price target on Monster Beverage from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Piper Sandler upgraded Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price target for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.19.

Insiders Place Their Bets

In other Monster Beverage news, 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 value of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.80% of the stock is owned by insiders.

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.