Mutual of America Capital Management LLC Has $5.05 Million Stock Holdings in Monster Beverage Corporation $MNST

Mutual of America Capital Management LLC cut its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,555 shares of the company’s stock after selling 920 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Monster Beverage were worth $5,046,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MNST. Wayfinding Financial LLC acquired a new stake in shares of Monster Beverage in the first quarter worth $29,000. Webster Bank N. A. acquired a new stake in shares of Monster Beverage in the second quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Monster Beverage by 37.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after buying an additional 196 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Monster Beverage in the first quarter worth $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Monster Beverage in the second quarter worth $55,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $54.00 to $74.00 in a research note on Thursday, August 7th. Redburn Atlantic cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and reduced their price objective for the stock from $63.00 to $60.00 in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Royal Bank Of Canada boosted their price objective on shares of Monster Beverage from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $66.05.

Monster Beverage Trading Down 1.2%

Shares of MNST stock opened at $68.90 on Wednesday. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $70.72. The firm’s fifty day simple moving average is $65.34 and its 200 day simple moving average is $62.49. The firm has a market capitalization of $67.28 billion, a P/E ratio of 42.80, a price-to-earnings-growth ratio of 2.43 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The business 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 posted $0.41 earnings per share. Monster Beverage’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 10,000 shares of the business’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 transaction, the director owned 51,191 shares of the company’s stock, valued at approximately $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 7.80% of the company’s stock.

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.