Ethic Inc. Acquires 22,453 Shares of Monster Beverage Corporation $MNST

Ethic Inc. increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 165.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,019 shares of the company’s stock after purchasing an additional 22,453 shares during the period. Ethic Inc.’s holdings in Monster Beverage were worth $2,223,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MNST. Nuveen LLC bought a new stake in Monster Beverage in the first quarter worth $497,157,000. Montrusco Bolton Investments Inc. boosted its holdings in Monster Beverage by 54.7% in the first quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company’s stock worth $303,728,000 after purchasing an additional 1,897,466 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Monster Beverage by 34.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company’s stock worth $425,921,000 after purchasing an additional 1,872,075 shares in the last quarter. Amundi boosted its holdings in Monster Beverage by 69.8% in the first quarter. Amundi now owns 3,032,591 shares of the company’s stock worth $180,894,000 after purchasing an additional 1,246,114 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Monster Beverage by 1.8% in the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MNST shares. Redburn Atlantic lowered shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and cut their target price for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Roth Capital reissued a “neutral” rating and set a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Finally, Rothschild & Co Redburn lowered shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.43.

Monster Beverage Stock Performance

Shares of MNST opened at $69.69 on Friday. The company has a 50-day simple moving average of $65.67 and a 200-day simple moving average of $62.73. The firm has a market capitalization of $68.05 billion, a P/E ratio of 43.29, a P/E/G ratio of 2.43 and a beta of 0.54. Monster Beverage Corporation has a 52 week low of $45.70 and a 52 week high of $70.72.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, equities analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Activity at Monster Beverage

In other 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 completion of the transaction, the director owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.30% 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.