Capital Research Global Investors Raises Holdings in Monster Beverage Corporation $MNST

Capital Research Global Investors boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,091,367 shares of the company’s stock after buying an additional 58,301 shares during the quarter. Capital Research Global Investors owned approximately 0.52% of Monster Beverage worth $390,378,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MNST. Jones Financial Companies Lllp increased its holdings in Monster Beverage by 397.9% during the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after buying an additional 12,148 shares during the period. Sivia Capital Partners LLC increased its holdings in Monster Beverage by 247.7% during the second quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after buying an additional 9,251 shares during the period. Cresset Asset Management LLC increased its holdings in Monster Beverage by 23.9% during the second quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock valued at $417,000 after buying an additional 1,281 shares during the period. Federated Hermes Inc. increased its holdings in Monster Beverage by 55.9% during the second quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock valued at $301,000 after buying an additional 1,721 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Monster Beverage by 151.7% during the second quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock valued at $2,134,000 after buying an additional 20,538 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

NASDAQ MNST opened at $89.55 on Monday. The stock’s fifty day moving average price is $80.27 and its 200 day moving average price is $78.65. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $90.44. The company has a market cap of $87.58 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.96 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm earned $0.47 EPS. The firm’s revenue was up 22.6% on a year-over-year basis. Research analysts expect that Monster Beverage Corporation will post 2.31 earnings per share for the current year.

Monster Beverage declared that its board has initiated a stock repurchase plan on Friday, May 15th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 54,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the transaction, the director directly owned 299,246 shares of the company’s stock, valued at $25,678,299.26. This represents a 15.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Kelly sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total value of $614,670.00. Following the completion of the transaction, the chief financial officer directly owned 62,553 shares in the company, valued at approximately $5,492,778.93. The trade was a 10.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,700 shares of company stock valued at $13,730,462 in the last ninety days. Company insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. lowered their target price on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. UBS Group restated a “neutral” rating and issued a $84.00 target price (up from $80.00) on shares of Monster Beverage in a research note on Friday, May 8th. Bank of America lowered their target price on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Evercore raised their target price on shares of Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.05.

Monster Beverage 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.