Baillie Gifford & Co. Purchases 60,865 Shares of Monster Beverage Corporation $MNST

Baillie Gifford & Co. grew its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 22.7% during the third quarter, Holdings Channel reports. The institutional investor owned 328,793 shares of the company’s stock after purchasing an additional 60,865 shares during the quarter. Baillie Gifford & Co.’s holdings in Monster Beverage were worth $22,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in MNST. Deseret Mutual Benefit Administrators raised its stake in Monster Beverage by 8.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 2,788 shares of the company’s stock valued at $188,000 after acquiring an additional 213 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Monster Beverage by 15.0% in the third quarter. UniSuper Management Pty Ltd now owns 68,438 shares of the company’s stock worth $4,607,000 after purchasing an additional 8,928 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Monster Beverage by 21.6% in the third quarter. Teacher Retirement System of Texas now owns 767,370 shares of the company’s stock valued at $51,652,000 after purchasing an additional 136,362 shares during the period. Kingdom Financial Group LLC. purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at approximately $207,000. Finally, iA Global Asset Management Inc. lifted its stake in shares of Monster Beverage by 9.4% during the 3rd quarter. iA Global Asset Management Inc. now owns 172,176 shares of the company’s stock valued at $11,589,000 after buying an additional 14,795 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST opened at $82.00 on Friday. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $82.19. The company has a market capitalization of $80.12 billion, a P/E ratio of 46.59, a P/E/G ratio of 2.15 and a beta of 0.46. The firm’s 50 day simple moving average is $75.94 and its 200 day simple moving average is $68.59.

Monster Beverage (NASDAQ:MNST) last released 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. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. On average, equities analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MNST shares. Bank of America boosted their target price on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, December 19th. Morgan Stanley reiterated an “overweight” rating and set a $87.00 price objective (up from $81.00) on shares of Monster Beverage in a research note on Tuesday, December 23rd. Piper Sandler set a $85.00 price objective on Monster Beverage in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Monster Beverage in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.62.

Insider Buying and Selling

In other news, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Emelie Tirre sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the completion of the sale, the insider directly owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This represents a 31.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 274,981 shares of company stock worth $20,138,516. Corporate insiders own 8.30% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.