Prudential PLC Increases Stock Holdings in Monster Beverage Corporation $MNST

Prudential PLC increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 76.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 108,930 shares of the company’s stock after purchasing an additional 47,165 shares during the quarter. Prudential PLC’s holdings in Monster Beverage were worth $6,823,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. OMNI 360 Wealth Inc. purchased a new position in shares of Monster Beverage during the 2nd quarter worth about $365,000. Avior Wealth Management LLC increased its position in Monster Beverage by 35.3% during the second quarter. Avior Wealth Management LLC now owns 22,146 shares of the company’s stock worth $1,387,000 after purchasing an additional 5,781 shares during the last quarter. Profund Advisors LLC increased its position in Monster Beverage by 10.1% during the second quarter. Profund Advisors LLC now owns 82,553 shares of the company’s stock worth $5,171,000 after purchasing an additional 7,606 shares during the last quarter. Nordea Investment Management AB raised its stake in Monster Beverage by 1.1% during the second quarter. Nordea Investment Management AB now owns 2,191,598 shares of the company’s stock worth $136,054,000 after purchasing an additional 22,960 shares during the period. Finally, Chevy Chase Trust Holdings LLC boosted its holdings in shares of Monster Beverage by 1.1% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 450,840 shares of the company’s stock valued at $28,241,000 after purchasing an additional 5,118 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the transaction, the insider owned 21,993 shares in the company, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on MNST shares. Piper Sandler upped their price objective on Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Stifel Nicolaus upped their price target on Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Roth Capital reiterated a “neutral” rating and set a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, Bank of America raised their price target on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $69.62.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $72.22 on Friday. The business’s 50-day simple moving average is $68.12 and its 200 day simple moving average is $64.21. The company has a market cap of $70.56 billion, a P/E ratio of 44.86, a PEG ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $73.07.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $0.41 earnings per share. Monster Beverage’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.