Monster Beverage Corporation $MNST Stock Holdings Lifted by Profund Advisors LLC

Profund Advisors LLC lifted its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,553 shares of the company’s stock after buying an additional 7,606 shares during the period. Profund Advisors LLC’s holdings in Monster Beverage were worth $5,171,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT increased its stake in Monster Beverage by 0.8% in the 2nd quarter. Zions Bancorporation National Association UT now owns 82,674 shares of the company’s stock valued at $5,179,000 after buying an additional 655 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Monster Beverage by 6.1% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,697 shares of the company’s stock worth $294,000 after acquiring an additional 270 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Monster Beverage by 6.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,439,495 shares of the company’s stock worth $90,170,000 after acquiring an additional 85,995 shares in the last quarter. Aviva PLC grew its stake in Monster Beverage by 4,106.2% in the second quarter. Aviva PLC now owns 1,144,730 shares of the company’s stock valued at $71,706,000 after purchasing an additional 1,117,515 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Monster Beverage by 39,281.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,379,522 shares of the company’s stock worth $86,413,000 after purchasing an additional 1,376,019 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $81.00 price objective (up previously from $74.00) on shares of Monster Beverage in a report on Friday. Citigroup reaffirmed a “buy” rating and issued a $79.00 price objective (up previously from $76.00) on shares of Monster Beverage in a research note on Thursday, October 9th. Stifel Nicolaus increased their target price on shares of Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Piper Sandler upped their price target on Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Bank of America raised their price objective on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.41.

Insiders Place Their Bets

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $69.73 on Monday. The firm has a market cap of $68.09 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. The firm’s 50-day simple moving average is $66.59 and its 200-day simple moving average is $63.50. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $72.62.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal 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.