Northern Trust Corp Boosts Holdings in Monster Beverage Corporation $MNST

Northern Trust Corp boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,431,658 shares of the company’s stock after acquiring an additional 73,737 shares during the period. Northern Trust Corp’s holdings in Monster Beverage were worth $434,901,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Twin Capital Management Inc. lifted its position in Monster Beverage by 11.6% during the first quarter. Twin Capital Management Inc. now owns 5,213 shares of the company’s stock valued at $305,000 after acquiring an additional 540 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Monster Beverage by 2.4% in the first quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company’s stock worth $18,475,000 after buying an additional 7,465 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Monster Beverage by 76.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company’s stock worth $3,915,000 after buying an additional 28,932 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Monster Beverage by 0.9% in the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company’s stock worth $75,455,000 after buying an additional 11,443 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Monster Beverage by 28.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company’s stock worth $2,136,000 after buying an additional 8,155 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MNST. Piper Sandler raised shares of 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 report on Thursday, August 7th. Royal Bank Of Canada set a $68.00 price target on shares of Monster Beverage and gave the stock an “outperform” rating in a report on Friday, August 8th. Bank of America raised their price target on shares of Monster Beverage from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Rothschild & Co Redburn cut shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a report on Wednesday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.10.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $63.99 on Wednesday. The firm has a fifty day moving average price of $61.65 and a 200 day moving average price of $58.80. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $66.75. The stock has a market cap of $62.48 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.10 and a beta of 0.55.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 27,000 shares of the firm’s stock in a transaction on 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 owned 69,273 shares of the company’s stock, valued at $4,391,908.20. This trade represents a 28.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Vidergauz sold 10,000 shares of the firm’s 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 sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.

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.