Monster Beverage Corporation $MNST Shares Acquired by Aberdeen Group plc

Aberdeen Group plc raised its stake in Monster Beverage Corporation (NASDAQ:MNST) by 4.8% in the second quarter, HoldingsChannel.com reports. The fund owned 534,225 shares of the company’s stock after purchasing an additional 24,368 shares during the quarter. Aberdeen Group plc’s holdings in Monster Beverage were worth $33,464,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in Monster Beverage in the 1st quarter worth approximately $29,000. Webster Bank N. A. purchased a new stake in shares of Monster Beverage in the second quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after purchasing an additional 196 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Monster Beverage during the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Monster Beverage in the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST opened at $69.62 on Monday. The business’s 50-day moving average is $64.31 and its 200-day moving average is $62.01. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.06. The company has a market capitalization of $67.98 billion, a price-to-earnings ratio of 43.24, a P/E/G ratio of 2.42 and a beta of 0.54.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on shares of Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group increased their target price on Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $74.00 in a research report on Thursday, August 7th. Finally, Redburn Atlantic lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and dropped their price objective for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $66.05.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction on 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 directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Company Profile

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.