Quantbot Technologies LP Invests $2.32 Million in Monster Beverage Corporation $MNST

Quantbot Technologies LP purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,650 shares of the company’s stock, valued at approximately $2,320,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in shares of Monster Beverage by 29.5% during the fourth quarter. NewEdge Advisors LLC now owns 28,702 shares of the company’s stock worth $1,509,000 after acquiring an additional 6,538 shares during the period. Marshall Wace LLP raised its holdings in shares of Monster Beverage by 27.2% during the fourth quarter. Marshall Wace LLP now owns 114,094 shares of the company’s stock worth $5,997,000 after acquiring an additional 24,396 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Monster Beverage by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,303,477 shares of the company’s stock worth $173,632,000 after acquiring an additional 400,278 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Monster Beverage by 33.5% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 29,519 shares of the company’s stock worth $1,552,000 after acquiring an additional 7,412 shares during the period. Finally, OneDigital Investment Advisors LLC raised its holdings in shares of Monster Beverage by 6.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 19,509 shares of the company’s stock worth $1,025,000 after acquiring an additional 1,148 shares during the period. 72.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MNST shares. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $74.00 in a report on Thursday, August 7th. CICC Research upgraded shares of Monster Beverage from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $56.00 to $65.00 in a research note on Monday, May 12th. TD Cowen lifted their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Bank of America lifted their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.10.

Monster Beverage Price Performance

Shares of MNST opened at $64.39 on Thursday. The firm has a 50-day moving average of $61.69 and a 200-day moving average of $58.83. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $66.75. The company has a market cap of $62.87 billion, a PE ratio of 39.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.55.

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. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm posted $0.41 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Transactions at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the transaction, the director owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Kelly sold 27,000 shares of Monster Beverage stock in a transaction dated Thursday, May 29th. The shares were 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 directly owned 69,273 shares of the company’s stock, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. Company 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.