Monster Beverage Corporation (NASDAQ:MNST) Shares Purchased by Invesco LLC

Invesco LLC grew its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 55.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 63,637 shares of the company’s stock after buying an additional 22,667 shares during the period. Monster Beverage accounts for approximately 1.5% of Invesco LLC’s portfolio, making the stock its 16th largest position. Invesco LLC’s holdings in Monster Beverage were worth $3,724,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Monster Beverage by 35.2% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,086 shares of the company’s stock worth $122,000 after purchasing an additional 543 shares during the period. Legacy Advisors LLC purchased a new position in Monster Beverage during the first quarter worth about $217,000. Asset Management One Co. Ltd. lifted its position in Monster Beverage by 3.8% in the first quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company’s stock valued at $24,786,000 after purchasing an additional 15,493 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Monster Beverage by 16.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 75,010 shares of the company’s stock valued at $4,390,000 after purchasing an additional 10,640 shares in the last quarter. Finally, M3 Advisory Group LLC acquired a new position in Monster Beverage during the 1st quarter worth approximately $204,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 27,000 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the transaction, the chief financial officer now directly owns 69,273 shares in the company, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the sale, the insider now directly owns 89,501 shares in the company, valued at $5,590,232.46. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MNST. Roth Mkm lifted their price target on Monster Beverage from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, May 14th. The Goldman Sachs Group upped their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Morgan Stanley raised their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, June 12th. Bank of America increased their target price on shares of Monster Beverage from $57.00 to $66.00 and gave the company a “buy” rating in a report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $62.05.

Monster Beverage Stock Up 0.2%

MNST stock opened at $63.21 on Tuesday. The company has a market capitalization of $61.65 billion, a P/E ratio of 41.59, a PEG ratio of 2.23 and a beta of 0.60. The firm has a 50 day simple moving average of $61.62 and a 200-day simple moving average of $55.90. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. Monster Beverage Corporation has a twelve month low of $43.32 and a twelve month high of $64.45.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the business posted $0.42 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal 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.