UniSuper Management Pty Ltd Trims Stock Position in Monster Beverage Corporation $MNST

UniSuper Management Pty Ltd lessened its position in Monster Beverage Corporation (NASDAQ:MNST) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,225 shares of the company’s stock after selling 1,111 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Monster Beverage were worth $3,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Scientech Research LLC purchased a new position in shares of Monster Beverage in the 1st quarter valued at approximately $979,000. Nissay Asset Management Corp Japan ADV grew its position in shares of Monster Beverage by 10.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 210,768 shares of the company’s stock worth $12,334,000 after buying an additional 20,669 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Monster Beverage by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 950,508 shares of the company’s stock worth $55,623,000 after buying an additional 85,276 shares during the period. Interval Partners LP purchased a new stake in shares of Monster Beverage in the 1st quarter worth about $28,577,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Monster Beverage in the 1st quarter worth about $9,547,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

MNST opened at $63.02 on Tuesday. The stock has a market capitalization of $61.53 billion, a P/E ratio of 39.14, a P/E/G ratio of 2.17 and a beta of 0.54. The company’s 50-day simple moving average is $61.63 and its two-hundred day simple moving average is $60.24. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $66.75.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. Research analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MNST shares. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Friday. The Goldman Sachs Group upped their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Citigroup upped their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.10.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

About Monster Beverage

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.