Profund Advisors LLC Has $5.17 Million Position in Monster Beverage Corporation $MNST

Profund Advisors LLC boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 10.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 82,553 shares of the company’s stock after acquiring an additional 7,606 shares during the period. Profund Advisors LLC’s holdings in Monster Beverage were worth $5,171,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Twin Capital Management Inc. increased its holdings in Monster Beverage by 11.6% in the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock valued at $305,000 after purchasing an additional 540 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in Monster Beverage during the second quarter valued at approximately $365,000. 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 in the last quarter. Dock Street Asset Management Inc. boosted its position in shares of Monster Beverage by 202.7% during the first quarter. Dock Street Asset Management Inc. now owns 11,744 shares of the company’s stock worth $687,000 after purchasing an additional 7,864 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Monster Beverage by 1.1% in the 2nd quarter. Nordea Investment Management AB now owns 2,191,598 shares of the company’s stock valued at $136,054,000 after buying an additional 22,960 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Price Performance

Monster Beverage stock opened at $69.73 on Monday. The company’s 50-day moving average is $66.59 and its 200-day moving average is $63.50. The firm has a market capitalization of $68.09 billion, a PE ratio of 43.31, a P/E/G ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $72.62.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $2.20 billion during 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%. Monster Beverage’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. As a group, analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction on Wednesday, August 13th. The shares were 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 of the company’s stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. 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.

Wall Street Analyst Weigh In

MNST has been the subject of a number of research analyst reports. 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 note on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 target price on shares of Monster Beverage in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monster Beverage in a research report on Wednesday, October 8th. Wells Fargo & Company raised their price target on shares of Monster Beverage from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup restated a “buy” rating and set a $79.00 target price (up previously from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Fourteen 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.41.

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.