Monster Beverage Corporation $MNST Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 19.2% during the third quarter, HoldingsChannel.com reports. The fund owned 357,025 shares of the company’s stock after purchasing an additional 57,389 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Monster Beverage were worth $24,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. increased its stake in Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after purchasing an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Monster Beverage during the third quarter worth about $27,000. Access Investment Management LLC purchased a new position in shares of Monster Beverage during the second quarter worth about $25,000. First Horizon Corp acquired a new position in Monster Beverage in the 3rd quarter valued at about $29,000. Finally, Armstrong Advisory Group Inc. raised its stake in Monster Beverage by 49.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock valued at $30,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $82.90 on Wednesday. The firm has a market capitalization of $81.00 billion, a price-to-earnings ratio of 47.10, a price-to-earnings-growth ratio of 2.12 and a beta of 0.45. The business’s 50 day simple moving average is $78.51 and its 200-day simple moving average is $71.26. Monster Beverage Corporation has a 12 month low of $48.95 and a 12 month high of $83.24.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the transaction, the insider owned 63,939 shares of the company’s stock, valued at $4,687,368.09. The trade was a 31.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rodney C. Sacks sold 206,543 shares of the business’s 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 SEC filing for this sale provides additional information. 8.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MNST. Morgan Stanley reiterated an “overweight” rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. UBS Group reissued a “neutral” rating and issued a $84.00 price objective (up from $75.00) on shares of Monster Beverage in a research note on Wednesday, January 14th. Zacks Research downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. TD Cowen reaffirmed a “hold” rating on shares of Monster Beverage in a report on Thursday, January 8th. Finally, Piper Sandler set a $85.00 price target on shares of Monster Beverage in a research note on Wednesday, December 3rd. Fourteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.90.

Monster Beverage Company Profile

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.