Intech Investment Management LLC Buys 12,062 Shares of Monster Beverage Corporation $MNST

Intech Investment Management LLC increased its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,914 shares of the company’s stock after purchasing an additional 12,062 shares during the quarter. Intech Investment Management LLC’s holdings in Monster Beverage were worth $8,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Access Investment Management LLC acquired a new position in Monster Beverage during the 2nd quarter worth $25,000. Salomon & Ludwin LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at $28,000. Golden State Wealth Management LLC raised its position in shares of Monster Beverage by 647.3% during the second quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock worth $35,000 after acquiring an additional 479 shares during the last quarter. Webster Bank N. A. acquired a new position in shares of Monster Beverage during the second quarter valued at $38,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Monster Beverage from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Zacks Research upgraded shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Evercore ISI increased their price objective on shares of Monster Beverage from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Piper Sandler upped their target price on shares of Monster Beverage from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.62.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $71.31 on Friday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $72.62. The stock has a market cap of $69.67 billion, a P/E ratio of 44.29, a P/E/G ratio of 2.31 and a beta of 0.53. The firm has a 50 day moving average price of $67.39 and a 200 day moving average price of $63.89.

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