Korea Investment CORP Has $57.58 Million Stock Position in Monster Beverage Corporation $MNST

Korea Investment CORP lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 35.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 855,501 shares of the company’s stock after buying an additional 224,238 shares during the period. Korea Investment CORP owned about 0.09% of Monster Beverage worth $57,584,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of Monster Beverage by 222.4% in the third quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock valued at $3,385,000 after purchasing an additional 34,697 shares during the period. Prudential PLC raised its stake in shares of Monster Beverage by 76.4% during the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after acquiring an additional 47,165 shares in the last quarter. VestGen Advisors LLC lifted its stake in Monster Beverage by 449.4% in the second quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock worth $1,376,000 after purchasing an additional 17,974 shares during the last quarter. Perigon Wealth Management LLC grew its position in Monster Beverage by 87.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock worth $2,163,000 after acquiring an additional 15,029 shares during the last quarter. Finally, ABN AMRO Bank N.V. bought a new stake in Monster Beverage in the 3rd quarter worth $59,170,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $75.61 on Monday. The business’s 50-day moving average is $80.19 and its two-hundred day moving average is $73.02. The company has a market capitalization of $73.87 billion, a P/E ratio of 38.97, a P/E/G ratio of 2.45 and a beta of 0.44. Monster Beverage Corporation has a fifty-two week low of $54.00 and a fifty-two week high of $87.38.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. Analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Buying and Selling at Monster Beverage

In related news, Director Rodney C. Sacks sold 206,543 shares of Monster Beverage stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were 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 in the company, valued at approximately $4,687,368.09. The trade was a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MNST has been the subject of several research reports. Morgan Stanley restated an “overweight” rating and issued a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a report on Monday, January 26th. Argus increased their price target on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Jefferies Financial Group lifted their price objective on Monster Beverage from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 27th. UBS Group increased their price objective on shares of Monster Beverage from $84.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, February 27th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $73.00 target price (up from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

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.