Monster Beverage Corporation $MNST Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 47.6% in the second quarter, HoldingsChannel reports. The firm owned 329,101 shares of the company’s stock after buying an additional 106,083 shares during the quarter. Mackenzie Financial Corp’s holdings in Monster Beverage were worth $20,615,000 at the end of the most recent reporting period.

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

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the transaction, the insider directly owned 21,993 shares of the company’s stock, valued at $1,568,760.69. This trade represents a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Stock Up 1.3%

Shares of MNST stock opened at $75.95 on Tuesday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $76.28. The firm’s 50 day moving average price is $69.45 and its two-hundred day moving average price is $64.93. The stock has a market cap of $74.20 billion, a price-to-earnings ratio of 47.17, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price (up from $74.00) on shares of Monster Beverage in a research report on Friday, November 7th. Wells Fargo & Company boosted their target price on shares of Monster Beverage from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $81.00 price target (up previously from $75.00) on shares of Monster Beverage in a research note on Monday. Finally, UBS Group lifted their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.19.

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.