AustralianSuper Pty Ltd Sells 411,530 Shares of Monster Beverage Corporation $MNST

AustralianSuper Pty Ltd lessened its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 10.8% during the 4th quarter, HoldingsChannel reports. The firm owned 3,390,792 shares of the company’s stock after selling 411,530 shares during the period. Monster Beverage accounts for approximately 1.2% of AustralianSuper Pty Ltd’s portfolio, making the stock its 14th largest position. AustralianSuper Pty Ltd’s holdings in Monster Beverage were worth $259,972,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Physician Wealth Advisors Inc. increased its holdings in shares of Monster Beverage by 508.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after buying an additional 315 shares during the last quarter. Harbor Investment Advisory LLC raised its position in shares of Monster Beverage by 136.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after buying an additional 205 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Monster Beverage by 1,338.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after acquiring an additional 415 shares during the last quarter. First Horizon Corp purchased a new position in Monster Beverage in the third quarter worth about $29,000. Finally, Triumph Capital Management purchased a new position in Monster Beverage in the third quarter worth about $36,000. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group set a $100.00 price objective on Monster Beverage in a research report on Wednesday, March 11th. Stifel Nicolaus lowered their price target on Monster Beverage from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Royal Bank Of Canada lifted their price objective on shares of Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Piper Sandler increased 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. Finally, 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 report on Friday, April 10th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.37.

Monster Beverage Stock Down 0.1%

Shares of Monster Beverage stock opened at $85.82 on Friday. The stock’s fifty day moving average is $76.38 and its two-hundred day moving average is $76.52. Monster Beverage Corporation has a 52 week low of $58.09 and a 52 week high of $88.77. The company has a market capitalization of $83.93 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 2.83 and a beta of 0.50.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. As a group, research analysts anticipate that Monster Beverage Corporation will post 2.31 earnings per share for the current year.

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.