KLP Kapitalforvaltning AS Boosts Stock Holdings in Monster Beverage Corporation $MNST

KLP Kapitalforvaltning AS increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 28.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 359,594 shares of the company’s stock after purchasing an additional 79,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in Monster Beverage were worth $22,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC purchased a new position in Monster Beverage during the second quarter worth about $1,783,000. Prime Capital Investment Advisors LLC increased its holdings in Monster Beverage by 8.1% in the second quarter. Prime Capital Investment Advisors LLC now owns 6,293 shares of the company’s stock valued at $394,000 after buying an additional 470 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Monster Beverage by 385.4% in the second quarter. Belpointe Asset Management LLC now owns 18,231 shares of the company’s stock valued at $1,142,000 after buying an additional 14,475 shares in the last quarter. Petros Family Wealth LLC purchased a new position in Monster Beverage in the second quarter valued at about $366,000. Finally, Valeo Financial Advisors LLC increased its holdings in Monster Beverage by 9.6% in the second quarter. Valeo Financial Advisors LLC now owns 7,192 shares of the company’s stock valued at $450,000 after buying an additional 629 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the subject of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of Monster Beverage in a report on Thursday, June 12th. They issued a “buy” rating and a $72.00 target price for the company. Wells Fargo & Company set a $73.00 target price on shares of Monster Beverage and gave the company an “overweight” rating in a report on Friday, August 8th. The Goldman Sachs Group increased their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the company a “buy” rating in a report on Friday, June 13th. Roth Capital reaffirmed a “neutral” rating and issued a $60.00 target price (up from $56.00) on shares of Monster Beverage in a report on Wednesday, August 13th. Finally, Citigroup increased their target price on shares of Monster Beverage from $74.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $65.19.

Monster Beverage Stock Performance

MNST stock opened at $68.15 on Wednesday. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $68.28. The stock’s 50 day moving average price is $63.74 and its 200 day moving average price is $61.75. The firm has a market cap of $66.54 billion, a P/E ratio of 42.33, a PEG ratio of 2.33 and a beta of 0.54.

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 analysts’ consensus estimates of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the company earned $0.41 EPS. Monster Beverage’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Monster Beverage 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.