Intech Investment Management LLC Grows Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Intech Investment Management LLC boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 60.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,364 shares of the company’s stock after acquiring an additional 37,391 shares during the quarter. Intech Investment Management LLC’s holdings in Monster Beverage were worth $5,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Corient Private Wealth LLC increased its stake in shares of Monster Beverage by 112.2% in the third quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock worth $10,339,000 after buying an additional 103,271 shares during the period. Victory Capital Management Inc. raised its stake in shares of Monster Beverage by 19.6% during the third quarter. Victory Capital Management Inc. now owns 760,842 shares of the company’s stock valued at $40,287,000 after acquiring an additional 124,716 shares during the last quarter. Sigma Planning Corp bought a new stake in shares of Monster Beverage in the third quarter worth about $480,000. Harvest Fund Management Co. Ltd increased its position in Monster Beverage by 14.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 9,368 shares of the company’s stock valued at $496,000 after purchasing an additional 1,173 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Monster Beverage by 6.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 763,381 shares of the company’s stock worth $40,421,000 after purchasing an additional 49,465 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MNST. Redburn Atlantic assumed coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a “buy” rating on the stock. Truist Financial cut Monster Beverage from a “buy” rating to a “sell” rating and lowered their target price for the company from $65.00 to $46.00 in a research note on Thursday, April 25th. HSBC reduced their price target on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Stifel Nicolaus decreased their price objective on Monster Beverage from $65.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Piper Sandler boosted their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.32.

Monster Beverage Stock Up 0.1 %

NASDAQ:MNST traded up $0.06 during mid-day trading on Friday, hitting $52.70. 7,137,661 shares of the company traded hands, compared to its average volume of 6,545,818. The stock’s fifty day moving average price is $55.47 and its 200-day moving average price is $56.07. Monster Beverage Co. has a one year low of $47.13 and a one year high of $61.22. The firm has a market cap of $54.90 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 2.21 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. Equities analysts predict that Monster Beverage Co. will post 1.77 EPS for the current year.

Insider Buying and Selling

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now directly owns 777,840 shares of the company’s stock, valued at $45,542,532. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.80% of the stock is currently owned by insiders.

Monster Beverage Company Profile

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.