Monster Beverage Corporation $MNST Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 15.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,438 shares of the company’s stock after purchasing an additional 8,928 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Monster Beverage were worth $4,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in shares of Monster Beverage by 21.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 767,370 shares of the company’s stock worth $51,652,000 after buying an additional 136,362 shares in the last quarter. Kingdom Financial Group LLC. purchased a new stake in shares of Monster Beverage in the third quarter valued at approximately $207,000. iA Global Asset Management Inc. grew its holdings in Monster Beverage by 9.4% during the third quarter. iA Global Asset Management Inc. now owns 172,176 shares of the company’s stock worth $11,589,000 after acquiring an additional 14,795 shares during the period. Covestor Ltd raised its position in Monster Beverage by 18.4% in the third quarter. Covestor Ltd now owns 2,921 shares of the company’s stock worth $197,000 after acquiring an additional 453 shares in the last quarter. Finally, Tranquility Partners LLC purchased a new position in Monster Beverage in the third quarter worth $215,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MNST shares. Argus upgraded shares of Monster Beverage to a “strong-buy” rating in a research report on Tuesday, November 25th. Jefferies Financial Group reissued a “buy” rating and set a $79.00 price objective on shares of Monster Beverage in a report on Tuesday, November 4th. Roth Mkm restated a “neutral” rating and set a $70.00 target price on shares of Monster Beverage in a research report on Wednesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of Monster Beverage from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 3rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $73.00 price target (up previously from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $76.62.

Insiders Place Their Bets

In other news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the transaction, the insider directly owned 21,993 shares of the company’s stock, valued at $1,568,760.69. The trade was a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 owned 63,939 shares in the company, valued at $4,687,368.09. This represents a 31.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 274,981 shares of company stock valued at $20,138,516. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $82.00 on Monday. The firm’s 50-day moving average is $75.94 and its two-hundred day moving average is $68.66. The company has a market capitalization of $80.12 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 2.15 and a beta of 0.46. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $82.19.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $0.41 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

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.