University of Texas Texas AM Investment Management Co. Makes New Investment in Monster Beverage Corporation $MNST

University of Texas Texas AM Investment Management Co. bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the second quarter, HoldingsChannel.com reports. The firm bought 41,244 shares of the company’s stock, valued at approximately $2,584,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNST. Nuveen LLC bought a new position in Monster Beverage during the first quarter worth about $497,157,000. Montrusco Bolton Investments Inc. raised its position in shares of Monster Beverage by 54.7% during the first quarter. Montrusco Bolton Investments Inc. now owns 5,366,126 shares of the company’s stock worth $303,728,000 after purchasing an additional 1,897,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Monster Beverage by 34.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,278,206 shares of the company’s stock worth $425,921,000 after purchasing an additional 1,872,075 shares during the period. Amundi raised its position in shares of Monster Beverage by 69.8% during the first quarter. Amundi now owns 3,032,591 shares of the company’s stock worth $180,894,000 after purchasing an additional 1,246,114 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Monster Beverage by 1.8% during the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock worth $3,791,313,000 after purchasing an additional 1,151,175 shares during the period. Institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Roth Capital reaffirmed a “neutral” rating and set a $60.00 price target (up previously from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Piper Sandler raised Monster Beverage from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Stifel Nicolaus raised their price target on Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday. Redburn Atlantic lowered Monster Beverage from a “strong-buy” rating to a “hold” rating and dropped their target price for the company from $63.00 to $60.00 in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada lifted their target price on Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.43.

Insider Activity at Monster Beverage

In other news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Stock Down 0.3%

NASDAQ:MNST opened at $69.69 on Friday. The firm has a market capitalization of $68.05 billion, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. Monster Beverage Corporation has a twelve month low of $45.70 and a twelve month high of $70.72. The stock’s 50 day moving average price is $65.67 and its two-hundred day moving average price is $62.79.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm earned $0.41 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts anticipate 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.