2,507,393 Shares in Monster Beverage Corporation $MNST Purchased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd acquired a new position in Monster Beverage Corporation (NASDAQ:MNST) during the 2nd quarter, HoldingsChannel reports. The fund acquired 2,507,393 shares of the company’s stock, valued at approximately $157,063,000. Monster Beverage makes up about 0.8% of AustralianSuper Pty Ltd’s portfolio, making the stock its 25th biggest holding.

Several other institutional investors also recently bought and sold shares of MNST. Salomon & Ludwin LLC purchased a new position in Monster Beverage in the 2nd quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new position in Monster Beverage in the 1st quarter worth approximately $29,000. Webster Bank N. A. purchased a new position in Monster Beverage in the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after purchasing an additional 196 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Monster Beverage in the 1st quarter worth approximately $43,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MNST. JPMorgan Chase & Co. raised their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus raised their target price on shares of Monster Beverage from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America raised their target price on shares of Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Roth Capital reissued a “neutral” rating and issued a $60.00 target price (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Finally, Citigroup reaffirmed a “buy” rating and set a $79.00 price target (up previously from $76.00) on shares of Monster Beverage in a research report on Thursday, October 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.43.

Monster Beverage Stock Performance

MNST stock opened at $69.69 on Monday. The firm has a market cap of $68.05 billion, a PE ratio of 43.29, a PEG ratio of 2.42 and a beta of 0.54. The firm’s 50 day moving average price is $65.67 and its 200-day moving average price is $62.82. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $70.72.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 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 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. Equities research analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total value of $637,300.00. Following the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.80% of the stock is currently owned by insiders.

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.