Monster Beverage Corporation $MNST Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 31.8% during the second quarter, Holdings Channel reports. The firm owned 1,942,695 shares of the company’s stock after purchasing an additional 468,473 shares during the quarter. Russell Investments Group Ltd.’s holdings in Monster Beverage were worth $121,640,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. OMNI 360 Wealth Inc. acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $365,000. waypoint wealth counsel purchased a new stake in Monster Beverage in the 2nd quarter valued at $314,000. Swiss National Bank grew its holdings in shares of Monster Beverage by 7.4% during the second quarter. Swiss National Bank now owns 2,209,500 shares of the company’s stock worth $138,403,000 after buying an additional 152,300 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Monster Beverage by 35.3% during the second quarter. Avior Wealth Management LLC now owns 22,146 shares of the company’s stock worth $1,387,000 after purchasing an additional 5,781 shares during the period. Finally, Prudential PLC boosted its holdings in shares of Monster Beverage by 76.4% in the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock valued at $6,823,000 after acquiring an additional 47,165 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Argus raised Monster Beverage to a “strong-buy” rating in a report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Monster Beverage in a research report on Monday. Wall Street Zen upgraded Monster Beverage from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Citigroup reaffirmed a “buy” rating and issued a $79.00 target price (up from $76.00) on shares of Monster Beverage in a research report on Thursday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.62.

Insider Activity

In related news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the completion of the transaction, the insider owned 21,993 shares in the company, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $75.04 on Thursday. The firm’s 50-day simple moving average is $68.79 and its 200-day simple moving average is $64.61. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $75.27. The firm has a market cap of $73.32 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.