University of Texas Texas AM Investment Management Co. Buys New Holdings in Monster Beverage Corporation $MNST

University of Texas Texas AM Investment Management Co. bought a new stake in Monster Beverage Corporation (NASDAQ:MNST) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,244 shares of the company’s stock, valued at approximately $2,584,000.

Other hedge funds have also recently bought and sold shares of the company. Twin Capital Management Inc. raised its stake in Monster Beverage by 11.6% during 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 in the last quarter. OMNI 360 Wealth Inc. acquired a new position in Monster Beverage during the second quarter worth $365,000. Nisa Investment Advisors LLC raised its stake in Monster Beverage by 2.4% during the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company’s stock worth $18,475,000 after acquiring an additional 7,465 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Monster Beverage by 76.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock worth $3,915,000 after acquiring an additional 28,932 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Monster Beverage by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company’s stock worth $75,455,000 after acquiring an additional 11,443 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Down 0.3%

Monster Beverage stock opened at $69.69 on Friday. The business’s 50-day simple moving average is $65.67 and its 200 day simple moving average is $62.79. The stock has a market cap of $68.05 billion, a price-to-earnings ratio of 43.29, a P/E/G ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.72.

Monster Beverage (NASDAQ:MNST) last posted its quarterly 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. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction dated 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 $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MNST has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Piper Sandler upgraded Monster Beverage from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Wall Street Zen lowered Monster Beverage from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Bank of America raised their target price on Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Citigroup restated a “buy” rating and issued a $79.00 target price (up from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. Thirteen 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 stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of “Hold” and an average price target of $66.43.

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.