Monster Beverage Corporation $MNST Shares Acquired by Profund Advisors LLC

Profund Advisors LLC grew its position in Monster Beverage Corporation (NASDAQ:MNST) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,797 shares of the company’s stock after purchasing an additional 6,749 shares during the quarter. Profund Advisors LLC’s holdings in Monster Beverage were worth $6,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. ABN AMRO Bank N.V. acquired a new stake in shares of Monster Beverage in the 3rd quarter valued at $59,170,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Monster Beverage by 7.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,605,873 shares of the company’s stock valued at $122,303,000 after purchasing an additional 116,510 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Monster Beverage by 12.2% in the 4th quarter. Nordea Investment Management AB now owns 880,061 shares of the company’s stock valued at $67,738,000 after purchasing an additional 95,606 shares in the last quarter. Inscription Capital LLC grew its position in shares of Monster Beverage by 130.6% in the 3rd quarter. Inscription Capital LLC now owns 25,260 shares of the company’s stock valued at $1,700,000 after buying an additional 14,305 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Monster Beverage by 2,436.3% in the 3rd quarter. UMB Bank n.a. now owns 57,371 shares of the company’s stock valued at $3,862,000 after buying an additional 55,109 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark J. Hall sold 54,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the transaction, the director directly owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. This trade represents a 15.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Emelie Tirre sold 88,700 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total transaction of $7,624,652.00. Following the transaction, the insider directly owned 81,763 shares in the company, valued at $7,028,347.48. The trade was a 52.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 159,700 shares of company stock valued at $13,730,462. Insiders own 8.10% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $88.54 on Tuesday. Monster Beverage Corporation has a 1 year low of $58.09 and a 1 year high of $88.77. The company has a market capitalization of $86.59 billion, a P/E ratio of 42.77, a PEG ratio of 2.87 and a beta of 0.50. The company’s fifty day moving average is $76.78 and its two-hundred day moving average is $76.78.

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

Monster Beverage declared that its Board of Directors has initiated a stock buyback program on Friday, May 15th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America dropped their target price on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. 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 report on Friday, February 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $100.00 target price (up from $96.00) on shares of Monster Beverage in a research report on Sunday, May 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Evercore increased their target price on shares of Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research report 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.89.

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.